4 May 2011
GRACE SILVER MARKETING LTD AND ANOTHER v. HAIXIN YU GAR (H.K.) LTD AND ANOTHER
- Citation
- GRACE SILVER MARKETING LTD AND ANOTHER v. HAIXIN YU GAR (H.K.) LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA595/2006
The court found that GSC was the disclosed master licensee authorised by Krizia and had appointed GSM as its authorised agent to grant sub-licences; the master licence included an irrevocable option which GSC validly exercised; the sub-licence was a complete written contract with no additional oral express or conditional terms; the deed constituted an original indemnity rendering Or primarily liable; Haixin Yu Gar breached the sub-licence by non-payment and is liable to GSM and GSC for US$125,000 and consequential loss of US$275,000 with interest and costs; counterclaim dismissed.