28 Jan 2004
SOUNDSTONE LTD v. ASIAN BUSINESS LTD AND OTHERS
- Citation
- SOUNDSTONE LTD v. ASIAN BUSINESS LTD AND OTHERS
- Court
- District Court
- Case number
- DCCJ1994/2002
Judge found on the evidence that Soundstone was the lender; the pleaded Amended Statement of Claim did not support an oral guarantee made contemporaneously with the oral loan agreement so that evidence was not admitted; the guarantee was signed after the advance and therefore lacked consideration; construction of the guarantee showed it to be conditional on UML settling shipments, so the guarantors' personal liability did not fall to be enforced. Claim against the 2nd and 3rd Defendants dismissed.