LAM LAI YI v. HO WING SZE AND ANOTHER

LAM LAI YI v. HO WING SZE AND ANOTHER

The trial judge correctly found no binding agreement to sell the plaintiff's shares because the parties only agreed to negotiate the price with a possible accountant valuation as a reference; plaintiff failed to prove a conclusive contractual mechanism; accordingly the application for leave to appeal had no realistic prospect of success and was dismissed with costs.

Citation
LAM LAI YI v. HO WING SZE AND ANOTHER
Parties
Plaintiff (applicant): Lam Lai Yi; 1st Defendant (1st Respondent): Ho Wing Sze; 2nd Defendant (2nd Respondent): Poon Chung Wai
Court
District Court
Jurisdiction
Hong Kong
Judgment Date
14 August 2009
Case Number
DCCJ2221/2006
Procedural Posture
Civil Action / Application for Leave to Appeal (district Court)
Outcome
Application for leave to appeal dismissed
Legal Topics
Agreement to Negotiate, Formation of Contract, Leave to Appeal, Costs
Source Language
EN
Contract Law Company Law Civil Procedure Agreement to Negotiate Formation of Contract Leave to Appeal Costs

Case Brief

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Parties

Lam Lai Yi

Plaintiff (applicant)

Ho Wing Sze

1st Defendant (1st Respondent)

Poon Chung Wai

2nd Defendant (2nd Respondent)

Procedural Posture

Civil Action / Application for Leave to Appeal (district Court)

Legal Issues

  1. 1 Whether there was a binding agreement for sale and purchase of the plaintiff's shares
  2. 2 If a binding agreement existed, what its terms were (price fixation mechanism)
  3. 3 Whether the defendants breached any agreement

Ratio Decidendi

The trial judge correctly found no binding agreement to sell the plaintiff's shares because the parties only agreed to negotiate the price with a possible accountant valuation as a reference; plaintiff failed to prove a conclusive contractual mechanism; accordingly the application for leave to appeal had no realistic prospect of success and was dismissed with costs.

Court Disposition

Application for leave to appeal dismissed

Orders

  • Application for leave to appeal dismissed
  • Costs awarded to defendants