18 Sept 2013
RISE HONEST INTERNATIONAL LTD v. TONG CHAI ON VIVIAM
- Citation
- RISE HONEST INTERNATIONAL LTD v. TONG CHAI ON VIVIAM
- Court
- District Court
- Case number
- DCCJ2163/2013
The Repayment Schedule did not form part of the contract and could not displace clause 5 of the Chinese Loan Agreement which mandates that repayments be applied first to interest, then default interest, then principal; applying that contractual sequence to the actual (late and non-compliant) payments yields an outstanding principal of HK$295,154, so the Master's figure of HK$280,326 was incorrect and must be substituted.