Read the full judgment text of CACV 000418/2006 on BabelCite. This Court of Appeal judgment was delivered on 4 September 2007.
1. By a purchase agreement dated 23 October 1992, Kuang Chiang Machinery Company Limited (“Kuang Chiang”), a Taiwanese company, agreed to sell certain machinery to Sun Win Industrial Limited (“Sun Win”), a Hong Kong company. Under the agreement, a sum of US$899,250.00 was payable by letter of credit (“L/C”).