6 Jul 1982
VIROTEX LTD v. MR K Y CHAN
- Citation
- VIROTEX LTD v. MR K Y CHAN
- Court
- Court of First Instance
- Case number
- HCA1180/1981
The court held the defendant liable on the dishonoured cheque under the letter of indemnity because the purported superseding agreement was executed earlier and did not extinguish the indemnity, payments to meet reasonable claims under the indemnity were recoverable, the 1st defendant had an absolute contractual obligation to procure transfer of the 1981 Category 5 quota and acted as agent binding Becopa which was also liable, section 48 Companies Ordinance did not apply to void the obligation, and damages in lieu were awarded for the untransferred quota at the proven market rate with interes…