18 Oct 1991
RICHARDSON GREENSHIELDS OF CANADA (PACIFIC) v. TZE YIM(a male) AND OTHERS
- Citation
- RICHARDSON GREENSHIELDS OF CANADA (PACIFIC) v. TZE YIM(a male) AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA6690/1987
On the established facts the broker validly exercised contractual rights under the Customer Trading Agreement to demand margin and to liquidate when demand was not met; the defendant authorised the 19 October transactions; the pooling/fungibility principle applies and there was no pleaded or proven insufficiency of the pool so burden lay on defendant to prove depletion; the sale to Mr. Li at a negotiated 10% discount on London closing prices was commercially reasonable and amounted to market price in the circumstances; the advances were credit incidental to stockbroking and not regulated mone…