26 Jul 2001
GRAND TRADE DEVELOPMENT LTD. v. BONANCE INTERNATIONAL LTD.
- Citation
- GRAND TRADE DEVELOPMENT LTD. v. BONANCE INTERNATIONAL LTD.
- Court
- Court of Appeal
- Case number
- CACV1002/2000
The Court allowed the appeal because the defendant failed to satisfactorily answer the purchaser's requisitions: the mere affixing of the company seal and a director's signature (without words indicating board authorisation) did not engage the presumption in s.23 Cap.219 nor did Turquand's rule assist on the facts; Table A signature requirements remain operative unless properly displaced by the articles and evidence of board authorisation was not produced, therefore title was not shown and the purchaser was entitled to return of deposit, costs and specified indemnities.