Mare and Others v Akerhielm and Another (Civil Appeal No. 57 of 1955)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The Court of Appeal allowed the appeal, holding that the trial judge misdirected himself by failing to draw an adverse inference from the respondents' failure to call their solicitor as a witness. The statement that about one-third of the capital had been subscribed in Denmark was untrue. The respondents either knew it was untrue or made it recklessly, not caring whether it was true or false. Damages were assessed at the full amounts invested, as the shares were worthless from inception due to radical defects in the project.
Outcome
Appeal allowed. Respondents held liable for deceit. Appellants awarded damages totalling Sh. 45,000 plus interest and costs.
Facts
The respondents issued a circular letter inviting persons in Kenya to subscribe for shares in Dantile Ltd., a company to manufacture tiles under a Danish patent. The letter stated that the tile had been successfully produced and sold in Denmark, that patent rights had been procured for most countries in Africa, India and Pakistan, and that about one-third of the capital had already been subscribed in Denmark. The appellants subscribed and paid for shares totalling Sh. 45,000. The company never commenced commercial operations and was wound up. The appellants received nothing. At trial, the judge found two statements were untrue but that the respondents honestly believed them to be true, and dismissed the suit. The respondents claimed their solicitor had settled the wording of the letter, but did not call him as a witness.
Issues
- Whether the respondents made false statements in a circular letter inviting subscriptions for shares in a company.
- Whether the respondents made such statements fraudulently, knowing them to be false or recklessly not caring whether they were true or false.
- Whether the trial judge misdirected himself in finding that the respondents honestly believed the statements to be true.
- What is the proper measure of damages in an action for deceit where shares purchased became worthless.
Orders
- Appeal allowed.
- Judgment and decree of the Supreme Court set aside.
- Judgment entered for the first appellant for Sh. 10,000 damages for deceit.
- Judgment entered for the second appellant for Sh. 20,000 damages for deceit.
- Judgment entered for the second and third appellants jointly for Sh. 15,000 damages for deceit.
- Interest awarded on the sums due from the date of the judgment set aside until realization.
- Costs of the suit in the Supreme Court awarded to appellants on the higher scale with a certificate for two advocates, one of them a Queen's Counsel.
- Costs of appeal awarded to appellants with costs of two advocates, but charges for making and certifying copies of the record under items 18 and 19 of Scale A in the 3rd Schedule to the Rules disallowed.
Rules and key headnotes
Legislation cited (1)
- Indian Contract Act s.17
Cases cited (3)
- Derry v Peek (1889) 14 AC 337
- Benmax v Austin Motor Co Ltd [1955] AC 370
- Twycross v Grant (1877) 2 CPD 469
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.