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First Energy v Hungarian Bank [1993] 2 Lloyds Rep 194

By Oxbridge Law TeamUpdated 04/01/2024 07:05

Judgement for the case First Energy v Hungarian Bank

Table Of Contents

  • X was a “Senior Manager” of a bank in Manchester, arranging finance for Defendant. Defendant knew that X had no actual authority to agree to such an agreement.

  • X sent Defendant a letter which was interpreted as offer of a loan which had been authorised by people more senior than him.

  • Claimant sought to repudiate contract.

Held

  • X had ostensible authority to communicate to Defendant that loan had been granted.

  • Thus contract was binding. 

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1071 purchased

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