PTC PENSION FUND v STANDARD CHARTERED MERCHANT BANK ZIMBABWE LTD ANOR 1993 (1) ZLR 55 (H)

Flynote

Bank — duty of care — merchant bank acting as agent and underwriter for purchase of shares — whether duty of care owed to purchaser of shares

Company — transactions by — officer claiming authority to enter into transaction on company's behalf — officer purchasing shares in another company-nature of authority required

Contract — breach — remedies — restitution — cannot be claimed on basis of delict

Costs — legal practitioner and client scale — failure to state precise grounds on which claim pursued — allegations of impropriety against other party — in both respects party acting on practitioner's advice — proceeding by way of summons warn conflicts affect would arise — other party able to answer allegations without reference to facts — not appropriate to award costs on higher scale

Practice and procedure — interdict — criteria on which may be granted — mandatory interdict — can be granted for a continuing wrong but not to remedy a "one-off" situation

Practice and procedure — pleading — precision in — claim formulated as though based on delict — relief arising from contract asked for — effect