30 Sept 2016
A.V.C. PROPERTY DEVELOPMENT CO LTD v. JOYFUL GRACE TRADING LTD AND ANOTHER
- Citation
- A.V.C. PROPERTY DEVELOPMENT CO LTD v. JOYFUL GRACE TRADING LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA529/2013
Plaintiff failed to prove that the 2nd defendant consented to the post‑Guarantee variation that increased the guarantor's liability; the variation therefore altered the underlying transaction to the guarantor's prejudice and the guarantor could not be held liable for the increased obligation. Consequently the plaintiff's claims against the 2nd defendant are dismissed; additionally, the contractual interest provision was held to be a penalty and unenforceable if relied upon, but dismissal was founded principally on lack of proven consent and deficient pleading/evidence.