VIGILANT VENTURES SDN BHD v Lembaga Kemajuan Ikan Malaysia (LKIM)
Catchwords
Contract Law – Formation and interpretation – Collaboration Agreement – Duration clause – Intention for 30 years subject to detailed extension mechanism – Trial period and automatic extensions – Further extensions require mutual written agreement – No unilateral right to compel extension after second automatic extension Contract Law – Expiry by effluxion of time – Distinguished from termination for breach – Agreement expiring by its own terms does not require notice of default or termination – Contract simply comes to an end Contract Law – Fraud and misrepresentation – Contract induced by fraud remains valid until rescinded – Finding of fraud relevant to damages, not to contractual expiry – Not contradictory to finding that contract was lawfully entered into Contract Law – Damages – Special damages – Must be strictly pleaded and strictly proved – Supported by documentary evidence (invoices, receipts, accounts) – Loss of guaranteed profits – Failure to prove actual gross income – Award set aside Contract Law – Damages – General damages – Global award of RM2.4 million – No proper legal basis pleaded (account of profits/unjust enrichment not pleaded) – No strict proof of actual loss – Award set aside Contract Law – Damages – Election between reliance loss and expectation loss – Claimant must elect – Cannot claim both Land Law – Vacant possession – Holding over after expiry of agreement – Registered proprietor entitled to vacant possession – Order affirmed
Practice Areas
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (k-01ncvcw-391-07-2023)