18 Mar 2022
Chong Poh Chee Melinda Ramli
- Citation
- WA-22NCC-562-10/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-562-10/2019 (Mahkamah Tinggi)
The handwritten settlement agreement signed by both parties constituted an admission of indebtedness and, together with part-payments made pursuant to its terms, estopped the defendant from denying the RM1,100,000 principal; the facts showed no system or continuity of business lending by the plaintiff so the transactions did not fall within the Moneylenders Act 1951 prohibition and were enforceable; the claimed aggregate interest of RM1,080,000 was dismissed because its terms and method of calculation were uncertain; the acknowledgment in the settlement agreement restarted limitation under s2…