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\f36\fs24\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\b\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 IN THE HIGH COURT OF FIJI
\par AT SUVA
\par CIVIL JURISDICTION
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 
\par ADMIRALTY ACTION NO. 4 OF 1992
\par 
\par Between:
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 FRESH FISH EXPORTERS (FIJI) LIMITED
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 Plaintiff
\par 
\par - and -
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 WASAWASA FISHERIES LIMITED
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid2557622\charrsid12088220 Defendant
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 Mr. R. Smith for the Plaintiff
\par Dr. M.S. Sahu Khan for the Defendant
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\tqc\tx4252\faauto\rin0\lin0\itap0\pararsid16463853 {\b\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 JUDGMENT}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par This action arises out of an agreement entered into between the Plaintiff (P) and the Defendant (D).}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The agreement is in writing dated 25th August 1989 (hereafter referred to as the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "agreement"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
) when it was agreed that D should sell and P buy (amongst other things) the ship }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Sunbird"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (hereafter referred to as the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "vessel"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 ) and equipment.
\par 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The Plaintiff's claim}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The Plaintiff's Statement of Claim (as amended) is as follows:-
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "1.\tab By an agreement in writing dated 25 August 1989 made between the p
laintiff and the defendant it was agreed (amongst other things) that the defendant should sell and the plaintiff buy the ship Sunbird and equipment (details whereof will be supplied prior to the hearing of this action).
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 2.\tab By clause 5.1 of such agreement 
in writing property in the said ship and equipment passed from the defendant to the plaintiff on 25 August 1989.
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 3.\tab 
The Defendant delivered the said ship and equipment into the possession of the plaintiff on or about 25 August 1989.
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 4.\tab The plaintiff perf
ormed the obligations on its part contained in the said agreement and is entitled thereunder to the execution and delivery to it by the plaintiff of a formal transfer of the said ship.
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 5.\tab The plaintiff installed further equipment (details whereof will be 
supplied prior to the hearing of this action) to a value of $152,039.00 on the said ship.
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 6.\tab 
In or about the month of March 1992 the defendant wrongfully took the said ship and the equipment on it from the plaintiff and has failed or neglected to return same and still detains same whereby the plaintiff has suffered loss or damage.}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The P joins issue with D on all the paragraphs of the D's Second Amended Statement of Defence save in so far as the same consist of admissions.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 On the Amended Counterclaim the P denies any further or other liability to}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 D and denies the allegation in the Amended Counterclaim.
\par 
\par The P therefore claims:
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab 
a declaration pronouncing the P the lawful owner of the vessel, and the equipment on it;
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab possession of the vessel and the 
equipment on it and damages from Defendant for their detention;
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (c)\tab an order that D execute and deliver to P a transfer of the vessel;
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (d)\tab 
alternatively, that the P be relieved of the forfeiture (if any) of its rights and interests under the agreement referred to in paragraph 1 upon such terms as the court may think fit.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The defendant's claim}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The D admits that there was this agreement and states in its Statement of Defence (as amended) and Counterclaim as follows:
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab That there was that agreement but that it was }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "subsequently varied between the parties as a result of discussions between them"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab That the variation was to the following effect:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "(a)\tab 
that because of cash flow difficulties facing the Plaintiff the Defendant would forego for a time that
 element of the formal Agreement contained in clause 3.2(b) in return for which forbearance the Plaintiff would pay a lease fee for the ship of $5,000 per month to the Defendant which lease fee the Defendant assigned to Fiji Development Bank.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab that the
 payment referred to in Paragraph 3.2(a) and 3.2(b) of the said agreement would be made and after such payment that the ship Sunbird would be transferred to the Plaintiff."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\tx-1440\faauto\rin0\lin720\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (c)\tab That D further says that:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "....pursuant to the variation referred to above it
 was agreed that right, title and interest in the ship would not pass until the Plaintiff had complied with the provisions of clause }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 3.2(a)}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  and 3.2(b) and the Defendant was in a position to pass title free from encumbrances.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 To date the Plaintiff has not complied with the provisions of }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 clauses 3.2(a) or}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  3.2(b) as varied."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (d)\tab 
That the D deny that they delivered the vessel to the P on or about August 1989 and say instead:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "...that in fact it had leased the ship to the Plaintiff in March, 1989 as an interim
 arrangement pending the finalisation of an agreement between the parties and that from March, 1989 until March, 1992 the Plaintiff operated the ship under the lease agreement referred to above and retained all the revenue earned by the ship during that t
ime.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
During this period the Plaintiff did not pay any money towards the reduction of the debt owed to the Defendant but only paid the lease fee referred to above."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (e)\tab 
The P is not entitled to a transfer of the vessel because it has failed to pay the sums of $235,000 and $147,342.00 as provided in clauses 3.2(a) and 3.2(b) of the agreement
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (f)\tab 
That it denies that the value of equipment installed in the vessel was to the value of $152,039.00
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (g)\tab That the D denies that it wrongfully took the vessel in March 1992 and says instead:

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"...that it has always had the control and ownership of the ship other than that the said ship was the subject of the lease agreement referred to above which agreement was terminated on or about March, 1992 and the Defendant now co
ntinues to exercise the control and management of the ship on the basis that the Plaintiff did not meet its obligations and it is not therefore entitled to the relief claimed."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (h)\tab That the P had acquiesced in the variation of the agreement and in any eve
nt the P is estopped from denying the said variation and both P and D had acted upon the basis of the variation.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 COUNTERCLAIM}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par That D counterclaims as follows:
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 the Plaintiff and the Defendant agreed that the Defendant would lease the ship to the Plaintif
f for a monthly lease fee of $5,000.00 and that the sum of $235,000.00 and $147,342.00 remains due and owing to the Defendant under the clauses 3.2(a) and 3.2(b) of the said Agreement.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par Alternatively the D claims:
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 that in breach of clause 3.2(b) of the sa
id agreement as varied the Plaintiff failed to pay and has still not paid to the Defendant the said sum of $147,342.00 and says that in breach of clause 3.2(a) of the said agreement the Plaintiff failed to pay to the Defendant the said sum of $235,000.00 
as a result of which the Defendant lawfully rescinded the said agreement.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The D claims
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab the sum of $382,342.00
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab interest at 13.5% per annum
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (c)\tab alternatively, a declaration that the D is the lawful owner of the vessel
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (d)\tab such further or other relief
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid16463853 {\f0\lang2057\langfe5129\langnp2057\insrsid16463853 (e)\tab costs of this action}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The issues}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par There was no pre trial conference hence there was nothing before me as to }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "agreed facts"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  and }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "issues"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  for my determination.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 As I see it, and it will be gathered from the pleadings, that the Plaintiff's claim is t
hat having entered into an agreement on 25th August, 1989 under which the Defendant sold the vessel to the Plaintiff, it is entitled to the transfer of ownership of the vessel; whereas the D says that there was a variation of that agreement and its claim 
is as stated hereabove.
\par 
\par It is the Defendant's contention that }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"although there was this agreement, the real essence of the agreement and the intention of the parties were that the ownership in the vessel was to be transferred to the Plaintiff upon the payme
nt of all the amounts due and payable under Clauses 3(2)(a) and (b) of the agreement.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Until that was done the vessel was to be rented out or leased by the Defendant to the Plaintiff on monthly payment of $5000.00.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
To that extent there was a clear variation of the agreement.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
This variation not only the Plaintiff acted upon but the conduct and circumstances of the case and dealings clearly brought out that this was so"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In any event the Defendant maintained that the Plaintiff was in breach of contract itself 
in not paying the amounts due as purchase price and consideration for the proposed sale and purchase as provided for under the said Clause 3(2)(a) and (b) of the agreement.
\par 
\par The defendant further says that when the Plaintiff Company was formed }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "all its operations were to be managed by the Defendant and Mr. Southwick.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The vessel Sunbird was used by the Defendant for such operation.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Consequently, the vessel Sunbird, in}{\i\f0\lang2057\langfe5129\langnp2057\insrsid16463853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
spite of the agreement of 25th August, 1989, never left the control or possession of the Defendant as such."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par Background to the Case}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The background to the case is sufficiently set out in the written submissions of Dr. Sahu Khan which is partly as follows:-
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "The Defendant and Competitive Foods Aust Limited and other overseas partners commenced 
business dealings in the fishing industry in Fiji since 1988.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Then it was agreed that the Plaintiff Company be formed and that eventually the majority shareholding be with the Overseas partners.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In May, 1989 permission was sought from the Reserve Bank of Fiji ["RBF"] for the issue of shares to the Overseas partners.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
RBF was informed that the $745,000.00 in relation to the issue of shares to all the shareholders was to come from Overseas.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It will be appreciated and it is common ground that under the law of Fiji where Overseas shareholders or non-residents intend to take majority or controlling shares in a local Company then they must get the approval of the RBF.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This is in conformity with Exchange Control Regulations.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The RBF gave its approval to the Plaintiff Company to issue the shares as specified in Exhibit "A".}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 However, it made it a condition that the whole of the $745,000.00 (and not only the contribution of the overseas partners) had to come from offshore."}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The Defendants complain that only $498,995.45 originated from offshore and another $11,363.63 was shown as deposit paid on a Fishing vessel.
\par 
\par Under the agreement, paragraph 3.2 to which constant reference has}{\f0\lang2057\langfe5129\langnp2057\insrsid14424318  been made provides as follows:}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par }\pard \ql \fi-698\li1418\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1418\itap0\pararsid14424318 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "3.2\tab The aggregate of the amounts referred to in clause 3.1 
shall be paid by the Purchaser as follows:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab by payment of $235,000 to the Vendor on the date of this agreement, and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab 
by payment of $147,342 to the Fiji Development Bank to discharge all mortgages, liens and other encumbrances over the Ship to that 
Bank and to reimburse any payments made to Fiji Development Bank on account of such mortgages since 1st February, 1989 to the date hereof on or before 60 days following the date of this agreement."}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The Defendant's further contention}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The defendant contends that the agreement to purchase was concluded in February/March 1989.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
At all material times Grahame Southwick was director of both the Plaintiff and defendant.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The agreement was signed by Southwick on behalf of both the companies.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Because of the Plaintiff
's financial difficulties it was agreed that in the meantime the vessel was to be leased to the Plaintiff on the payment of $5000 per month and by arrangement this lease payment was to be made to the FDB on account of the mortgage payment of the defendant
.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Hence the provision in paragraph 3(2)(b) of the agreement to this effect.
\par 
\par If as the Plaintiff maintains that the $5000 payment per month was on account of the plaintiff and part payment of purchase price then the defendant argues why was there a provision for reimbursement to the defendant.
\par 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Alleged Variation of the Agreement}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par Accordin}{\f0\lang2057\langfe5129\langnp2057\insrsid16463853 g to Southwick, inter alia; the}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"The final legal formalities were to be completed by the Plaintiffs Sydney Solicitors and because the Joint Venture partners were anxious to
 begin operation immediately, it was agreed that the Defendant would make the Sunbird available on an interim basis by way of a lease and payment was to be $5000.00 per month payable to the FDB on account of the Defendant until settlement.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The legal forma
lities by way of a Contract was prepared but the Plaintiff found that cash flow difficulties prevented it from completing the terms of the proposed Agreement for Sale and Purchase.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid14424318 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It was accordingly agreed that the interim arrangement of lease would cont
inue until the Joint Venture Company (Plaintiff) was in a position to complete the terms of the Sale and Purchase.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Accordingly, the payment of $5000.00 per month as loan payments continued.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
To that extent there was variation of the original agreement.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid14424318 "}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The defendant says that this contention is supported by all other surrounding circumstances, documentary evidence (including letters and annual accounts) of both the Plaintiff and the Defendant.
\par 
\par The defendant further contends as stated on page 8 of the }{\f0\lang2057\langfe5129\langnp2057\insrsid16463853 defendant's written submission:}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "That the Plaintiff intended for purposes of its books to have the agreement (Exhibit IV) executed.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Mr. Southwick who was the Director of the Plaintiff and the Defendant made it very clear that the agreement was executed on the
 clear basis that until the payment of $235,000 under Clause 3(2) (a) and $147,342 under Clause 3(2)(b) were made the Ownership of the vessel would not be transferred or pass.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 That was a collateral agreement between the parties.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Mr J Cowen (the Chairman) and the Board of the Plaintiff clearly agreed to this.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Mr Southwick had clearly understood this to be the arrangement.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
That is why he had insisted on the inclusion of the non-merger clause 6 in the agreement which stated:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424318 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "6. }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 N0N-MERGER}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid14424318 {\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 None of the terms, conditions or any act}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 , matter or thing done under or by virtue of }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 or in connection with this agreement}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  shall operate }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 as a merger of any of the obligations, rights or remedies}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  of the parties in or under this agreement and }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 such obligations}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 , }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 rights}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  and remed
ies shall at all times continue in full force and effect in accordance with their terms." }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (emphasis added)}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Accordingly, it was collaterally agreed that the Ownership (and possession) of the vessel would remain with the Defendant and the Plaintiff will con
tinue with the $5000.00 per month lease payments until the Plaintiff was in a financial position to pay the amounts referred to in clause 3(2)(a) and (b).
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\tx-1440\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This must be so.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The Defendant, or rather Mr Southwick, would not have been that naive to allow the 
Plaintiff to have ownership and possession of the vessel, to take all the earnings and benefit from the vessel, and yet not having been paid any amount except $5000.00 per month which was much less than the earnings from the vessel."}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The defendant submits that the above contention is supported fully by the Financial Statements of the Plaintiff Company (exhibit I) in schedule 3/5 under the caption }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Subsequent Events"
}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 , similarly under schedule 3/4 paragraph 6, of the 1990 Financial Statement (exhibit 2).
\par 
\par The defendant argues (p.10 of the said submission):
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "However, the agreement of the sale of the Sunbird was entered into on 25th August, 1989.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 If the intention was, as alleged by the Plaintiff, that the ownership was to pass on the execution of the agreement
, then surely a similar entry would have been made pertaining to Sunbird that it is yet to be registered.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
That clearly supports the Defendant's assertion that it was never intended that upon the signing of the agreement the ownership was to pass to the Plaintiff only upon payments of the sums payable under Clause 3(2)(a) and (b) was that to happen.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
However, in the meantime the Defendant agreed that the Plaintiff keep all the income from the boat but paying the Defendant $5000 per month as rental.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Consequently, for its account purposes the Plaintiff entered its book as if the transaction had been completed.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Accordingly, in the Acco}{\i\f0\lang2057\langfe5129\langnp2057\insrsid16463853 unts of even 1990 there was a ri}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
der in the Accounts."}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid16463853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The defendant says with reference to Exhibits I, J, K that the ownership in the vessel did not pass to the Plaintiff.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It says (p.13 of submission):
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It is unimaginable for a businessman in his position to have agreed to the transfer of the Ownership of Sunbird to the Plaintiff without payment.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This is particularly when bearing in mind his personal house was given as a collateral mortgage with the mortgage over Sunbird to FDB.
\par 
\par Accordingly, again the above letters of the Bank confirm the continual financial difficulties of the Plaintiff that it was not in a financial position to complete the payments referred to in Clause 3(2)(a) and (b) of the Agreement.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In fact it is pertinent to note that the payment of $235,000 was to be paid on the date of the execution of the Agreement and the $147,342 to FDB and the refund of instalment payments made by the Defendant since 1st February, 1989 were to be made within }
{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 90 days}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  of the execution of the agreement.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Yet even after 1 year of the agreement even the FDB payments could not be cleared and even after one year the Plaintiff was in no position to do so.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The Defendant had maintained that it was clearly understood between the parties that the agreement be executed but the ownership was not to be in fact transferred until the payments under clause 3(2)(a) and (b) were made."}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The defe}{\f0\lang2057\langfe5129\langnp2057\insrsid16463853 ndant says (p.15 of submission) }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 exhibits }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "D"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  (letter dated 10.1.91 from Plaintiff) and }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "E"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (letter dated 15.1.91 from Plaintiff to Mr. Southwick) }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "clearly put in nutshell the true state of affairs pertaining to the dealing about the Sunbird"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  thus corroborating the evidence of Southwick }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "and the stand taken by the defendant throughout"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .
\par 
\par The defendant submits that the payment of $235,000.00 under clause 3(2)(a) of the agreement had nothing to do with the issue of shares, and if at all already issued to the Defendant Company, were done illegally.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The said clause did not intend that the said sum was to be paid by issue of shares, to the contrary it was to be paid in cash on }{
\f0\lang2057\langfe5129\langnp2057\insrsid14424318 the execution of the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The defendant summed up its argument thus (p.23 of submission):
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Fr
om the evidence and documents, it is very clear that the Plaintiff miserably failed to make all the above payments.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Also it was clear that until all the above payments were made the vessel "Sunbird" would merely be leased to the Plaintiff and this is precisely what was done.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It is significantly clear that the $5000.00 per month payment made was the same as the Defendant was making to FDB before and this is shown in his accounts.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Also the Plaintiff was to pay the FDB payment of $147,342 in 90 days but it only paid $5000.00 per month.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
This clearly shows that it was under the lease arrangement and the agreement was executed not to complete and record the sale as such but for other purposes as discussed above."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The Plaintiff's submissions}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par In response to the Defendant's submission, the Plaintiff says that it does not admit any of the contentions }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "whether they are contentions of "common ground"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  or }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "otherwise"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .
\par 
\par It says that the P's claim to title to the vessel is brought under a formal agreement whose authenticity, date and due execution are all admitted.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The Plaintiff's damages claim is based on the wrongful re-taking by D of possession of the vessel in March 1992.
\par 
\par In answer to the D's contentions, the P says that the allegations }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "carry the same insurmountable p
roblem for the Defendant, namely that the Defendant's knowledge of them would have raised in the Defendant the duty of action as the Plaintiff's manager."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The Plaintiff fur}{\f0\lang2057\langfe5129\langnp2057\insrsid14424318 ther argues (p.2 of submission)}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 :-
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Had the allegations been true, they would have been known to the Defendant.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Since the Defendant was the Plaintiff's manager, that knowledge would have raised an immediate duty in the Defendant to act; at the very least to properly record the allegations and to formally and unmistakably inform the Plain
tiff's board of directors of them.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 That would have been the standard of care required of any manager.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 What must the standard have been in this case, where it is the manager itself that is the claimant.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid14424318 "}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The Plaintiff says that there is a situation where the D is }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"simply not re-acting, or at worst deliberately refraining from action all in flagrant breach of its managerial duties as causing or allowing the P to do nothing about situations of which the D was fully aware".
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The Plaintiff says that the doctrine of estoppel arises in this case and Mr. Smith refers the Court to the case of (}{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 MERCANTILE BANK v CENTRAL BANK 1938 AC 304}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 )}{\f0\lang2057\langfe5129\langnp2057\insrsid16463853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The Plaintiff argues that (p.3 of submission):-
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 All the records of the Plaintiff prepared under the Defendant's management (some
 formally signed by the Defendant's managing director) show that the Sunbird was sold to, possessed by and operated by the Plaintiff.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Even if the Defendant believed otherwise, having made the representations by conduct it has, it can not offer evidence to the contrary of the position it endorsed.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid16463853\charrsid14424318 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
None of the records of the Plaintiff prepared under the Defendant's management (some formally signed by the Defendant's managing director) indicate the Sunbird to be leased to the Plaintiff.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Even if the Defendant believed otherwise, having made the representations by conduct it has, it can not offer evidence to the contrary of the position it endorsed.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
All of the records of the Plaintiff prepared under the Defendant's management (some formally signed by the Defendant's managing director) show that the Plaintiff paid off all except $136.92 of the FDB debt.}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Even if the Defendant believed otherwise, having made the representations by conduct it has, it can not offer evidence to the contrary of the position it endorsed.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 All of both the Plaintiff's records }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
and}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  the Defendant's records show that the Defendant received the $235,000.00 for which it counterclaims.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 None of the records of either the Plaintiff or the Defendant (both formally signed as correct by the Defendant's
 managing director) show the debt that must have existed had that not been so.}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The learned counsel for the Plaintiff deals with another matter and that concerns the D's allegations regarding }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "the real essence of the agreement"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  (2nd paragraph of D's submissions).
\par 
\par He says that Dr. Sahu Khan tries to show that in transfer the agreement between the parties was not what is recorded in the formal agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "extrinsic evidence"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 rule is inapplicable in this case he says.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Mr. Smith says that there has never b
een any dispute as to the nature of the transaction here, namely, that it was a sale and purchase agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He says that what the Defendant is now saying is }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "that the agreement should not be read as it is written because it does not properly record the agreement between the parties".}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par He refers the Court to the following passage from the judgment of }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 LORD DENMAN}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  in the leading case of }{
\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 GOSS v NUGENT}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  1833 5B & Ad. 58, at 64:-
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "If there be a contract which has been reduced into writing, verbal evidence is not
 allowed to be given of what passed between the parties, either before the written instrument was made, or during the time that it was in a state of preparation, so as to add to or subtract from, or in any manner to vary or qualify the written contract."}
{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par Mr. Smith submits that it is clear beyond question that the property in the vessel passed to the P on 25 August 1989 in accordance with the terms of clause 5.1 of the Agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The D is estopped by the records it kept and its own acts and admissions and that everything the Plaintiff did or did not do was actually done by the D because the D was the P's Manager.

\par 
\par Mr. Smith further submits that there was not a mention of any variation of the Agreement (or of the non-payment of anything except $136.92 which t
he P admitted) until immediately before the first trial of this action was about to commence on 26 August 1993 when the then counsel for the D applied for leave to file a further amended statement of defence and counterclaim.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This was more than 16 months after the action commenced.
\par 
\par Mr. Smith concludes with the following submission (p.11 of submission):-
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The Plaintiff says that it is apparent that as the trial loomed, realising that half of Suva could aver that the Plaintiff }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 did}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  get possession of the vesse
l and that it kept it for 30 months, and realising belatedly that the mere failure by the Plaintiff to pay $136.92 ($136.92 out of a transaction in which it had }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 paid}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  $382,205.08) was going to have no effect on the passing of property clause in the Agreemen
t, the Defendant concluded that it had to choose another defence - notwithstanding that its affidavits too, had already committed it to the obvious truths it had already pleaded.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 What is more, it had to be an innovative defence because it -
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 1.\tab had to destroy the clear effect of clause 5.1 of the Agreement;
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 2.\tab 
had to explain away the fact that the Plaintiff had operated the Sunbird for 30 months;
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 3.\tab 
had to explain away the fact that the Plaintiff had paid all except $136.92 of a total price of $}{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 382,342.00}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 ;

\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li2160\ri0\nowidctlpar\tx-1440\faauto\rin0\lin2160\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 4.\tab 
had to explain away the fact that as part of that payment process the Plaintiff had paid $5,000.00 a month to the FDB for more than 30 months.
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid16463853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par The explanation the Defendant chose, addressed all those things - however questionably - but what it could }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 not}{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 do was to erase the truth that had been stored away before the Defendant had found need of its imagination.}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The determination of the issue}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid16463853 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (i)\tab }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Evidence adduced}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The decision in this case depends upon my findings on (a) whether there was a variation of the agreement as alleged by the defendant or (b) was it a straight-out agreement to sell the vessel }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Sunbird"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  to the plaintiff.
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par I have already set out hereabove at considerable length each party's case.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 I shall now briefly outline the evidence adduc
ed in this case, in the light of which I will determine the issue before me.
\par 
\par For the Plaintiff evidence was given by }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 JOHN GUTHERIE HOOD}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (W1) a chartered accountant and Manager of Price Waterhouse (Suva Office), }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 KARIM BUKSH}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (W2) a financial consultant and }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 PATRICK BOYLE}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  (W3) an accountant.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408 
 }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Testifying for the Defendant was }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 GRAHAME BRUCE SOUTHWICK}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .
\par 
\par In so far as it is relevant to the issue before me, }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 HOOD}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 who became Manager of Price Waterhouse on 3 June 1992 and who had nothing to do with the parties prior to 
his joining, testified, looking at the Financial Statements of the Plaintiff for the period to 30 June 1989 signed by the directors, that P was indebted to D in the sum of $4122; and Account to 30 June 1990 shows the indebtedness as $33,300.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said that there is nothing in the accounts to show that there is any lease expense.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }
{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Between 1989 and 1990 the P paid Fiji Development Bank the sum of $93,460 leaving a balance of $45000.
\par 
\par The second witness }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 KARIM BUKSH}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  (W2) testified that shareholders in P Company ar
e Competitive Foods of Australia and Wasawasa Fisheries Ltd (D Company).}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The witness was approached by Cowen (a director of P Co) as consultant to look at certain aspect of P's affairs.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
There were disputes with Grahame Southwick (Managing Director of P).}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 They also had some difficulties with the vessel.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The vessel was taken by the Defendant or G. Southwick in February 1992.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 G. Southwick was Managing Director of both P & D and he signed the agreement for both the Companies.
\par 
\par He said that in February 1992 the vessel was in possession of P.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It was taken back by D in February - March 1992 coinciding with the time when the entire staff of P Co. joined a new Company.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
The vessel was in an excellent condition then.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In June-July 1991 it was fitted with new fishing gears; it was a }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "general refitting programme"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The value of the vessel after refitting would be $180,000 to $200,000.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He said that market for leasing at that time in March 1992 was very }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 'big'}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  and could fetch $5000 to $8000 per month.

\par 
\par In cross-examination he said that he got involved in February-March 1992 into the affairs of P.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He agreed that Southwick did say that the vessel belonged to D and that D had not been paid for it; he said that he cannot recall that he said the agreement for sale }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "was not to be put
 in place"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He also said that the vessel was leased to P and that the $5000 that the P paid was in relation to lease arrangement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Mr. Buksh agreed that under clause 3.2(a) of the agreement $235,000 was to be paid by the Plaintiffs and he said that this was paid by issue of shares and although the agreement does not say that it had to be paid in that manner it can be }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "cash or kind"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid10306059 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said that before 1992 he had nothing to do with the vessel.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In March 1992 it was under the control of the D.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said he has never been in that vessel but had a look at it from outside.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The witness does not know who carried out improvements on the vessel.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said that from records he can say it cost $81,000 to refit the vessel.
\par 
\par In re-examination he said that if the P was in debt he would find }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 'signs'}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  of that in the accounts.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It does not appear in the accounts of 1990 and 1991.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The third witness }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 BOYLE}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 who was called to testify in rebuttal was not associated with the Plaintiff before March 1992 when he became a director of the P Company.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He is a certified practising accountant.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He is aware of the agreement but he said that }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "no agreement"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  was made to }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "vary that agreement"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 As alleged by Southwick he said that he does not recall having made a statement that the P Company was not the owner of the vessel.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said that he did not tell Andrews (another director who was not called) that the vessel was only leased and that the Agreement to purchase it will be put in abeyance.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He said that he had nothing to do with the balance sheets.
\par 
\par For the Defendant }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 GRAHAME BRUCE SOUTHWICK}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
, company director, testified as to how the P company came into being; it was a joint venture with 68% overseas and 32% local content (defendant company).
\par 
\par Mr. Southwick's evidence on the issue was along the lines stated hereabove in the Defendant's submissions. In short, he said, inter alia, the P was to purchase }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Sunbird"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  from D.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 By arrangement P was to be paid $5000 per month charter fees.}
{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In February-March 1989 when the vessel was given to P it was given to it as lessee.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 P commenced to pay in March 1989 but the agreement (exhibit 4) was not signed until 25 August 1989.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The $5000 a month was to be paid direct to FDB on behalf of D.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
This $5000 was paid from March and continued to be paid after the agreement was signed.
\par 
\par He said that the sum of $235,000 was to be paid on the date of the agreement and $147,342 was to be paid to FDB 60 days following date of agreement but nothing was paid by the Plaintiff.}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid10306059\charrsid2557622 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (ii)\tab }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Findings}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\tx-1440\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid10306059 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Provisions of Agreement not fully complied with by Plaintiff}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par In the light of the evidence before me including documentary evidence I make}{\f0\lang2057\langfe5129\langnp2057\insrsid14424318  findings of fact as hereunder.}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par The dealings between the parties were finalized on 25 August, 1989 with the execution of the agreement of even date (exhibit 4).
\par 
\par Subject to what I say hereafter in regard to payment under clause 3.2(a), it is clear from the evidence that the terms of the agreement were not fully complied with by the Plaintiff.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 I find that the mode of payment of the purchase price of the vessel as requi
red under item 3.2(a) was not met, except to the extent of $5000 per month paid under item 3.2(b) to Westpac to clear the debt of the Defendant.
\par 
\par I therefore disagree with the Plaintiff's assertion that it had paid the amounts required under items 3.2(a) and 3.2(b) of the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In my view, on the evidence and in the circumstances of this case, bearing in mind the Reserve Bank conditions of approval, payment by issue of shares to the value of $235,000 is not payment as intended under item 3.2(a)}{
\f0\lang2057\langfe5129\langnp2057\insrsid14424318 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It had to be in cash and not in the form of shares.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
I therefore reject the opinion of BUKSH that payment could be made by issue of shares for I find that that was not what was intended nor is there anything in writing or otherwise to show that there was a variation of the agreement in that regard.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Hence I find that this sum (under claim 3.2(a)) was not paid by the Plaintiff.
\par 
\par I find that as far as the possession of the vessel is concerned, it was given to the Plaintiff upon the execution of the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
There i
s no dispute about the fact that the Plaintiff had the use of the vessel all along until it was taken away from it in March 1992 for, according to the defendant, for non-compliance with the provisions of the agreement regarding payment of the purchase pri
ce referred to in items 3.2(a) and 3.2(b).}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 On this aspect under item 5.1 of the agreement it is stated that }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "notwithstanding anything contained in this agreement, right title and interest in the Ship and Equipment will pass to the purchaser on the date of this Agreement"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 ; but under item 5.2 of the agreement there is provision as to when the transfer of the vessel was to take place.
\par 
\par The }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "completion date"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  is defined in item 1.1 of the agreement to mean }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "the date upon which the purchaser makes the payment referred to in clause 3.2(b)"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 A further item 5.2 in the agreement reads that }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"on the completion date the Vendor will deliver to the Purchaser all duly executed bills of sale, transfers ..."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  etc }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
"free from encumbrances together with any documents or other evidence of title"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par 
\par In the light of the above provisions of the agreement I find that because the Plaintiff has complied with the relevant provisions of the agreement under said item 3.2(b), the defendant is required under item 1.1 and 5.2 to execute a trans
fer of the vessel to the Plaintiff in accordance with item 5.2, although the said sum of $235,000 has not been paid in the manner as required under the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The non-payment of this sum cannot be the fault entirely of the Plaintiff for SOUTHWICK as }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "common officer"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  acquiesced in such a situation to continue without taking appropriate steps, for example by a resolution of the companies, to reduce to writing the true situation.
\par 
\par I therefore find that in all the circumstances of this case, subject to what
 I say hereafter on the alleged variation of the provisions of the agreement, that it was a straightout sale and purchase agreement between the parties (the two companies) with the terms and conditions and mode of payment as set out therein.
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\tx-1440\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Witnesses
' Evidence on alleged variation and the law}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par Dr. Sahu Khan has made a lengthy submission that there was a variation of the agreement as stated by him hereabove.
\par 
\par I have given careful consideration to all the evidence that has been adduced in this regard and also the cases cited by Dr. Sahu Khan in support of his argument.
\par 
\par I am not convinced that there has been a variation as alleged after weighing all the evidence that has been adduced in this case particularly bearing in mind what each of the four witness
es has said on variation and after considering the documentary evidence produced.
\par 
\par This is what the witnesses have said bearing on this aspect.
\par 
\par Mr. Hood said that there is no entry in the Financial Statements regarding any lease to indicate that there was a variation of the agreement.
\par 
\par As for the witness }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 BUKSH}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (W2), he came very late on the scene to be able to be of much, if any, assistance in this regard.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In any case he was merely giving his views and opinions from documentary evidence.
\par 
\par Whereas }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 BOYLE'S}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  (W3's) evidence was in complete}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 contradiction to what }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 SOUTHWICK}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 (the only witness for the defendant) said in regard to this matter.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 BOYLE}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  does not know of any variation of the agreement.
\par 
\par In dealing with the aspect of variation it is SOUTHWICK'S evidence which has given me a lot of concern.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He plays a double or a dual role.
}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He is director in both the companies.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He signed the agreement for both Plaintiff and Defendant.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
In his situation he can switch over from one company to the other.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 He can lodge whatever ba
lance sheet he wishes incorporating whatever material suits him and then say that there was a variation of the terms of the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
According to my understanding of the balance sheets (exhibits 1, 2 and 3) of the Plaintiff, they do not reveal any variation.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
If there was it should have been reflected in them.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
A lot was read into these balance sheets by the Defendant but I do not find that the various items referred to therein during the hearing have any relevance or effect on the agreement to establish th
at there was a variation of the nature alleged by the defendant.
\par 
\par As director of both the companies }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 SOUTHWICK}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  was fully aware of their financial position.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In fact he was the key figure in the day to day operation of the companies.
\par 
\par What was preventing SOUTHWICK from reducing the alleged variation to writing for after all it was such an important variation if the agreement was at all varied. It goes to the very root of the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  
}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Mr. Southwick has by-passed the conditions imposed by the Reserve Bank of Fiji in relation to bringing into the country the funds involved in a joint venture with foreign partners.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
If the financial position of the Plaintiff company was as bad as it was made out by Southwick then he should have set in motion ways and means of vary
ing the agreement in writing as the variation that he alleges is quite substantial which in effect changes the whole character of the agreement particularly when it concerns the mode of payment of the purchase price.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 On top of that payment continued for thirty months without any indication as to what was to happen to the original agreement.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 There ought to have been a proper resolution of the companies (P & D) to give weight to variation.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In this situation it is difficult to swallow Southwick's argument on variation.
\par 
\par The only thing that has happened here is that the sum of $5000 per month for a period of about 30 months was paid to Westpac, which I find was for the purpose of reducing the Defendant's debt to the Bank, and this payment was to be credited towa
rds the purchase price.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 I reject the defendant's argument altogether that this money was for the lease of the vessel to Plaintiff.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 I find that this payment was made for the purpose I have found with the full concurrence of SOUTHWICK who was at the helm of 
both the companies.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
SOUTHWICK agrees that the amount payable under 3.2(a) was to come from offshore and for which approval was given by the Reserve Bank did not eventuate in full.
\par 
\par I find that SOUTHWICK'S assertion regarding variation was an after-thought.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
He alone knew of the alleged variation because of his position whereas BOYLE as director had no knowledge of it.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
I prefer to accept the evidence of BOYLE in this regard to that of SOUTHWICK.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
As Mr. Smith has said, everything that went on in regard to the two companies was well within SOUTHWICK'S knowledge and he could manipulate matters as he wished.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This was a case where knowledge of one company is imputed to another company through the medium of a common officer SOUTHWICK.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 I quote from the judgment of }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 COLMAN J}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  in }{
\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 CREDIT SUISSE v BOROUGH COUNCIL OF ALLERDALE}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 1995 LL.L.R Vol 1 p.315 at p.361 on the question of where to draw the line in this regard:
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10306059 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Referring to the decision of the Court of Appeal in In re Marseilles Extension Railway Co.,}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 L.R. 7 Ch. 161, he continued:
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid10306059 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Where is the line to be drawn, or what is the test to be applied in order to say whether or not in each case the knowledge of the common officer is the knowledge of each company employing him?}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It seems to me that, broadly, the Lords Justices
 do draw the line thus, that the knowledge which has been acquired by the officer of one company will not be imputed to the other company, unless the common officer had some duty imposed upon him to communicate that knowledge to the other company, and had
 some duty imposed on him by the company which is alleged to be affected by the notice to receive the notice."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par In the present case SOUTHWICK as a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "common officer"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 failed to communicate to the Plaintiff the real situation regarding the agreement and failed 
in his duty to take appropriate steps to rectify the agreement in an appropriate manner by reducing the alleged variation to writing rather than continuing to accept the payment of $5000 per month for so long without any indication of the fate of the prov
isions of the agreement particularly as to the mode of payment of the purchase price.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
As it was the purchase price would never have been paid and the agreement would have remained indefinitely in name only.
\par 
\par Why would the Plaintiff want to continue paying for 30 months the $5000 per month indefinitely without becoming the ultimate owner of the vessel which was the intention behind the agreement.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 The defendant extorted the payment under the guise that the vessel was leased immediately following the date of the execution of the lease.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408 
 }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
Because the financial position of the Plaintiff company was weak as stated by SOUTHWICK, I fail to understand why a lease agreement was not entered into in the first place rather than entering into the agreement for sale and purch
ase the subject matter of the action.
\par 
\par In all the circumstances of this case I find that the evidence is not strong enough to convince me that there was this alleged variation at all.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Hence on a balance of probabilities it has not been established that there was a variation.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Dr. Sahu Khan has stated that the defendant gave parol evidence to show what the real intention was and what was the true nature of the written transaction.
\par 
\par In this case there is no doubt about the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "true nature of the transaction"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 It was a sale and purchase agreement of the vessel.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Here I cannot allow evidence that the agreement did not correctly express the intention of the parties or that the defendant did not understand it.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 As has been said by }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 JAMES L.J}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  in }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Ex Parte MORGAN In Re SIMPSON }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
C.A. 1875-6 2 Ch.D p.72 at 84:
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10306059 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "No doubt there is an equity, under some circumstances, to set aside a deed.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 There is equity to rectify a deed.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 But it must be judicially set aside or rectified, and, unless and until that is done, it is a violation of f
irst principle to allow evidence as to the meaning and intention of parties, when there is an actual agreement in writing, the record of that meaning and intention."}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }{\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 JAMES}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  L.J goes on to say:
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid10306059 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "It is, however, quite possible that the recital in the deed m
ay be erroneous as to the previous arrangement.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It is quite possible that in fact after entering into such an agreement the parties may have found it not workable, and have superseded it by another agreement, either expressed or to be inferred from course of dealing.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
They may have entered into an agreement to give up the relation of principal and agent, and to become simply vendor and purchaser, as found by the verdict of the jury.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 But it was the duty of the Judge to have told the jury that it }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 required the strongest evidence}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  to support the contention }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 that the recital was not true}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 , and that it required like evidence to show }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 that there was such a substituted agreement}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 , and what that agreement was."}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (underlining mine for emphasis)

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid96408 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 In this case I am not satisfied, applying the civil standard of proof, with the defendant's contention in regard to the true intention and consideration.}{
\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 As stated in the}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
above-quoted passage, that it requires the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "strongest evidence to support"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  such a contention that there was a vari
ation of the agreement of the nature alleged as hereabove or that there was }{\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "such a substituted agreement, and what the agreement was"}{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 .}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 This requirement has not been fulfilled in this case.
\par 
\par In the outcome, for the above reasons I find that the defendant has wrongfully rescinded the agreement and has}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
unlawfully detained the vessel in the absence of any provision in the agreement as to what is to happen with the vessel in default of payment of the purchase price.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{
\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Since {\*\bkmkstart QuickMark}{\*\bkmkend QuickMark}payment was made, as I have found, unde
r item 3.2(a) of the agreement the Plaintiff became entitled to transfer of the vessel under items 1.1 and 5.2 of the agreement.
\par 
\par For the above reasons the Plaintiff substantially succeeds in its claim in this action.
\par 
\par Having found as above, I find that the defendant has failed to prove its Counterclaim.}{\f0\lang2057\langfe5129\langnp2057\insrsid96408  }{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
It is therefore dismissed with costs which is to be taxed unless agreed.
\par 
\par In the outcome there will therefore be judgment for the Plaintiff against the Defendant as follows and it is ordered as hereunder:
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid10306059 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (a)\tab 
That upon payment by the Plaintiff to the Defendant within six weeks from this judgment the sum of $235,000 which was required to be paid by the Plaintiff under item 3.2(a) of the Agreement dated 25 August 1989 the possession of the vessel }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 "Sunbird"}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  and its immediate transfer in the name of the Plaintiff is ordered }{
\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 AND}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
 if default is made in the said payment the agreement shall be deemed to have been rescinded and the Defendant shall do what it likes with the vessel.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid10306059 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (b)\tab That upon payment of the said su
m of $235,000 the Defendant do give credit to the Plaintiff for the sum of $5000 per month paid to Fiji Development Bank for 30 months or whatever sum has been paid in this manner towards the purchase pri}{
\f0\lang2057\langfe5129\langnp2057\insrsid2557622 ce of the said vessel to fulfil}{\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622  the requirements of item 3.2(b) of the said agreement.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14424318 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid10306059 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (c)\tab 
That the Plaintiff is not entitled to damages for the alleged unlawful detention as the Plaintiff had itself failed to comply with the payment of $235,000 under item 3.2(a) of the agreement whilst it made full use of
 the vessel by doing business with it and not accounting to the defendant or anyone else for the proceeds from the said business.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid10306059 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 (d)\tab 
The defendants are ordered to pay the costs of this action which is to be taxed if not agreed.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\b\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 D. Pathik
\par }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 Judge}{\b\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\b\f0\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par At Suva
\par 25 March 1996
\par }\pard \qr \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid2557622 {\lang2057\langfe5129\langnp2057\insrsid2557622 HBG0004J.92S}{\lang2057\langfe5129\langnp2057\insrsid7302132\charrsid2557622 
\par }}