22 Oct 1975
ASIAN INTERNATIONAL ACCEPTANCE & CAPITAL LTD v. SAMUEL MACOMBER CHURN
- Citation
- ASIAN INTERNATIONAL ACCEPTANCE & CAPITAL LTD v. SAMUEL MACOMBER CHURN
- Court
- Court of First Instance
- Case number
- HCA2708/1974
Even if a suretyship had been constituted, the plaintiff's unilateral material variation of the loan terms by its 7 May letter (granting time and altering repayment and interest arrangements) materially altered the debtor's contract and thereby discharged the defendant as surety; accordingly the plaintiff's claim failed and the defendant succeeded on his counterclaim.