KUEEN LAI PROPERTIES SDN BHD v 1. ) ACE CREDIT (M) SDN. BHD. 2. ) CHANG AI NEE 3. ) DATO' CHOONG CHEE MENG
Catchwords
Investment Agreement – Enforceability of Investment Agreements – Whether the investment agreement constitutes a valid and enforceable contract or an unlawful money lending transaction under the Moneylenders Act 1951. Personal Guarantee – Scope and Nature of Personal Guarantees – Whether the 2nd and 3rd Defendants’ personal guarantees amount to enforceable undertakings or mere letters of comfort. Contractual Interpretation – Effect of Risk Disclosure Clauses – Whether the Plaintiff’s acknowledgment of investment risks negates the Defendants’ liability to repay the principal and returns. COVID-19 Economic Impact – Impact of COVID-19 on Contractual Obligations – Whether pandemic-induced financial hardship justifies non-performance or delays in repayment under the investment agreement. Contract – Remedies for Breach of Contract – Whether the Plaintiff is entitled to specific performance and damages following the Defendants’ failure to pay the investment sum and returns – Standard Form Contracts and Contra Proferentem Rule – Whether ambiguities in the investment agreement should be construed against the Defendants who drafted the contract.
Practice Areas
Judges (1)
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-22ncc-513-10-2022)