28 Sept 1998
INTERGULF EXPRESS H.K. LTD. AND ANOTHER v. DELTA ASIA CREDIT LTD.
- Citation
- INTERGULF EXPRESS H.K. LTD. AND ANOTHER v. DELTA ASIA CREDIT LTD.
- Court
- Court of Final Appeal
- Case number
- FACV3/1998
Clause 5 of the Undertaking and Indemnity, read in the context of the agreement and the parties' long course of dealing, imposed a bilateral obligation on the respondent to settle purchases of foreign currency cheques by delivering Hong Kong dollar crossed cheques in the appellants' favour unless the appellants had given written or acceptable standing instructions to the contrary; the respondent breached that obligation by delivering cash cheques to the appellants' employee and is liable for the resulting loss; appeal allowed and judgment entered for the appellants for HK$2,010,371 plus inter…