The bank's word should be its bond *

Singapore - March 21 2011
In the recent decision of Lam Chi Kin David v Deutsche Bank AG [2010] SGCA 42 ("Deutsche Bank"), the Court of Appeal held that the bank's promise of a grace period to its customer constituted a binding undertaking which varied the relevant terms of the bank's agreement with its customer.

Co-authors: WONG Cui Lian.