19 Jul 1989
NELSON HOLDINGS INC. v. DAVID HSIA
- Citation
- NELSON HOLDINGS INC. v. DAVID HSIA
- Court
- Court of First Instance
- Case number
- HCA1099/1987
Article 3.2's 'best efforts' requirement is a condition precedent but, on the facts, the board satisfied it; plaintiff's payments were made under compulsion to avert bank action and were not officious; the losses claimed were not too remote and therefore plaintiff is entitled to recover the amounts it paid on defendant's behalf; specific performance of loan agreements is inappropriate; estoppel by silence fails for absence of duty to disclose.