15 Apr 1987
HO WING CHEONG AND OTHERS v. GRAHAM MARGOT AND ANOTHER
- Citation
- HO WING CHEONG AND OTHERS v. GRAHAM MARGOT AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA5766/1986
An executive director employed to manage a stockbroking house lacks implied authority to speculate with the firm's capital or pledge its credit beyond ordinary client‑facilitating acts; unauthorized speculative transactions by Margot gave rise to personal liability for the firm's losses where no express authority or clear ratification existed; the three‑year post‑employment restraint was unreasonable in duration and therefore unenforceable; claims against Norman Ng failed for lack of causal responsibility.