7 Jan 1988
HANG SENG BANK LTD v. CHAN FONG CHIU AND OTHERS
- Citation
- HANG SENG BANK LTD v. CHAN FONG CHIU AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA3615/1984
The bank and its solicitors assumed the duty of explaining the mortgage to the chargors; that duty was inadequately performed and the mortgage on its true construction secured only a principal sum of $140,000, with $100,000 to be treated as applied to the bills facility (lower rate) and $40,000 to the overdraft; accordingly interest must be apportioned: $100,000 at the bills rate and $40,000 at the overdraft rate from 29 May 1984.