27 Nov 1978
EDWARD WONG FINANCE CO LTD v. INFINITY INDUSTRIAL CO LTD AND ANOTHER
- Citation
- EDWARD WONG FINANCE CO LTD v. INFINITY INDUSTRIAL CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA3469/1977
The phrase "A/C PAYEE ONLY" is to be treated as a direction to the collecting bank to credit the payee's account and, without clearer words prohibiting transfer, does not render the cheque non‑negotiable; therefore the holder for value is entitled to judgment against the drawer after dishonour.