11 Nov 1974
THE CANTON TRUST & COMMERCIAL BANK LTD v. FUI MEN-TAK FORMERLY t/a WEI TAK TAILORS AND MANDARIN PRODUCTS CO AND OTHERS
- Citation
- THE CANTON TRUST & COMMERCIAL BANK LTD v. FUI MEN-TAK FORMERLY t/a WEI TAK TAILORS AND MANDARIN PRODUCTS CO AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA609/1971
The bank drafted the guarantee and omitted any 'on demand' clause; that omission manifested an intention that the guarantor be immediately liable without prior demand, so limitation does not start from an unmade demand; nevertheless limitation rules (Parr's principle) restrict recovery to advances within six years prior to the writ, limiting the plaintiff to interest accrued in that period from the third defendant; judgment against the fourth defendant entered because he failed to prosecute his signature denial and handwriting expert evidence favors the bank.