7 Jul 2005
CHEUNG KAM WA v. DRANSFIELD HOLDINGS LTD
- Citation
- CHEUNG KAM WA v. DRANSFIELD HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCA1399/2002
The offer dated 6 September 2001, as explained by the chief executive, formed a binding option contract accepted by the plaintiff with consideration; the board had authority to grant the option; the plaintiff had not been summarily dismissed and validly exercised the option within the preserved period; the defendant could not rely on internal non‑compliance or its own failure to obtain approvals to avoid its contractual obligation; accordingly judgment for the plaintiff for market loss was awarded.