25 Oct 2000
MALAHON SECURITIES LTD. v. WONG TUNG SHAN
- Citation
- MALAHON SECURITIES LTD. v. WONG TUNG SHAN
- Court
- Court of First Instance
- Case number
- HCA1593/1998
On the balance of probabilities the defendant authorised the purchase of the shares and is liable under the Cash Trading Agreement for the purchase price; although the defendant issued the cheque reluctantly under compulsion, the circumstances did not amount to legal duress sufficient to avoid the cheque; the sale proceeds of HKSB shares ($65,923.39) and the $15,000 received by the plaintiff's agent reduce the defendant's liability, resulting in judgment for the plaintiff in the sum awarded.
- Breach of cash trading agreement
- Dishonoured cheque
- Authorization of trades by agent
- Duress and voluntariness of instrument
- Application of payments and set‑off
- Assessment of damages and costs