13 Jul 2018
RCL SEMICONDUCTORS LTD AND OTHERS v. LAI KAM YIN AND ANOTHER
- Citation
- [2018] HKCFI 1611
- Court
- Court of First Instance
- Case number
- HCA692/2013
The court held that Danny personally gave an enforceable sales guarantee under the 25/5/11 Agreement (read with the annexed sales plan) and was liable for the ascertained shortfall calculated by reference to Actual Sales of SMP (TOP excluded by the agreed variation and calculation by quarter). The alleged Preconditions and Implied Conditions were not to be implied or accepted; the AUK payment had been procured by Danny for his own account and not a contractual advance by EB to RCL, so EB's claim against RCL failed and the AUK balance could be set off; the Formula for treating additional share…