Read the full judgment text of HCA 002890/1973 on BabelCite. This High Court CFI judgment.
1. These proceedings are brought by a company incorporated in Hong Kong which carries on the business of sharebrokers. Among its clients was the defendant who authorised the plaintiff from time to time to buy shares on his behalf. These shares were bought on margin, a margin that fluctuated from time to time usually within the limits of 30% to 40%. Should the price of the shares purchased drop to such an extent as to reduce the margin to 25% it was usual for the plaintiff to demand and receive f