CIMB BANK BERHAD v GERAK JALINAN SDN BHD
Catchwords
Banking — Banker’s guarantee — Quick Guarantee — Distinction between Quick Guarantee and conventional bank guarantee facility — Whether board resolution required — Whether authorised signatory sufficient to bind company — Guarantee application executed under company stamp and account signatory’s signature — Liability to reimburse bank upon payment under guarantee. Banking — Banker and customer — Account mandate — Authority of sole account signatory — Whether bank entitled to rely on account mandate — Whether bank acted in accordance with customer’s mandate — Effect of absence of directors’ resolution. Banking — Banker’s guarantee — Demand guarantee — Call by beneficiary — Bank’s obligation to honour conforming demand — Customer’s liability under contractual indemnity — Reimbursement of amount paid under guarantee. Contract — Indemnity — Contractual indemnity under banker’s guarantee application — Bank paying beneficiary pursuant to guarantee — Recovery of amount paid — Alternative claim in unjust enrichment and restitution. Evidence — Admissions — Emails originating from company’s admitted email account — Whether admissible as admissions under Evidence Act 1950 — Whether hearsay rule applicable — Sections 17–21 Evidence Act 1950. Evidence — Adverse inference — Failure to call material witness — Director alleged to have authorised transaction not called — Whether adverse inference to be drawn — Section 114(g) Evidence Act 1950. Evidence — Documentary evidence — Allegation of fabrication of banking documents — Absence of expert evidence — Company stamp and authorised signature — Whether allegation proved. Restitution — Unjust enrichment — Discharge of defendant’s indebtedness to third party by plaintiff bank — Benefit received through payment under banker’s guarantee — Whether retention of benefit without reimbursement unjust. Banking — Certificate of indebtedness — Conclusive evidence clause — Certificate founded upon reversed debit entry — Manifest error — Whether certificate conclusive — Quantum proved by independent evidence. Civil Procedure — Counterclaim — Wrongful debit — Debit authorised by contractual mandate — Claim for refund of charges and alleged lost interest — Whether recoverable — Counterclaim dismissed.
Practice Areas
Judges (1)
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (ma-22ncc-7-05-2021)