14 Apr 2000
BANK OF CHINA v. JIAN SING BANK LTD.and XINYUAN TRADING CO. LTD. (Third Party)
- Citation
- BANK OF CHINA v. JIAN SING BANK LTD.and XINYUAN TRADING CO. LTD. (Third Party)
- Court
- Court of First Instance
- Case number
- HCCL82/1999
JSB's swift message and written Advice of Acceptance of 23 July 1998 amounted to an acceptance/representation addressed to BOC as a negotiating/discounting bank which estopped JSB from denying acceptance despite absence of signature on the bill; JSB was therefore liable to BOC for US$1,658,067.80 and, having incurred that liability, JSB is entitled to be indemnified by its customer Xinyuan under the contractual indemnity and terms accepted by Xinyuan.