Read the full judgment text of HCA 005403/2001 on BabelCite. This High Court CFI judgment was delivered on 5 June 2009.
1. Tai sues Choi for a refund of $470,000. According to Tai, that amount is the outstanding balance of a sum of $580,000 which Tai paid pursuant to a Chinese Memorandum (CM) dated 22 April 1998. Tai says that, under the CM, he and Choi had agreed to form a limited company to sell frozen meat on a retail basis. No such company was ever formed. Accordingly, Tai contends that there has been a total failure of consideration entitling him to the return of his monies.