14 Oct 1999
WONG MING WAI v. TSUI KAM MING t/a TUNG TAI CONSTRUCTION CO.
- Citation
- WONG MING WAI v. TSUI KAM MING t/a TUNG TAI CONSTRUCTION CO.
- Court
- Court of Appeal
- Case number
- CACV179/1999
The trial judge's factual findings fixed the repayment date at 20 December 1994 and the agreed repayable sum produced an effective annual interest rate of 62.39%, which exceeds 60% under s24 Cap.163; therefore the loan agreement is unenforceable and the appeal is dismissed.