ONC Lawyers
Hong Kong
Advantages of drawing a cheque for payment are plenty: for example, one does not need to carry a large number of bank notes in order to effect a payment of a substantial value, and the flow of funds in and out of accounts can be traced more easily which facilitates bookkeeping. Nevertheless, in the context of sale and purchase of real property, even provided that the current account has sufficient funds, does a cheque always guarantee timely payment and the eventual completion of a transaction? The answer is in the negative, as illustrated in the recent case of Howarth Cheung Natalie Jane Y.S. v Tsang Hong Kwang Ok & Anor, CACV 272/2013.
For more information about the Hong Kong law firm, ONC Lawyers, please visit the International Society of Primerus Law Firms.
December 2014