17 Nov 2010
FORTUNE ASSET DEVELOPMENT LTD v. FORTUNE ASSET DEVELOPMENT LTD AND ANOTHER
- Citation
- FORTUNE ASSET DEVELOPMENT LTD v. FORTUNE ASSET DEVELOPMENT LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA167/2009
Court found on balance of probabilities that Lauw Senior was not suffering from dementia during the material contracting period and preferred Prof. Mak's evidence; even if incapacity had arisen temporarily his directorships were not vacated for permanent unsoundness and, in any event, the companies by conduct and through acquiescence held him out as having authority so he had actual and apparent authority; therefore contracts were valid and damages were awarded to vendors as calculated; indemnity claims were stayed sine die; Midland's counterclaim for agreed damages succeeded.