28 Nov 1983
HANG SENG FINANCE LTD v. CHOW MOW SHING KENNY
- Citation
- HANG SENG FINANCE LTD v. CHOW MOW SHING KENNY
- Court
- District Court
- Case number
- DCCJ7892/1983
Where a hire-purchase agreement provides a formulaic, ascertainable sum for damages and the pleadings and supporting evidence permit, the court may grant leave under Order 84 and assess damages in chambers; the correct measure is actual damage (capital advanced plus reasonable interest to termination less instalments and resale value) and an appropriate rebate for accelerated payments may be applied by the Rule of 78; the court must also apply Part IV Money-Lenders Ordinance to ensure interest is not extortionate. Applying those principles the pleaded calculation was accepted and judgment ent…