(delivering the judgment of the Court): The High Court at Seremban entered judgment in the sum of $13,174.59 against the appellant for the balance on the overdraft account.

The facts reveal that the appellant bought and sold shares using overdraft facilities on the security of the shares deposited with the respondent bank. Things did not fare well for the appellant when the stock market crashed in the later part of 1973. On January 12, 1974 the respondent demanded payment. The appellant was unable to pay and asked for time hoping that the share value would appreciate. Judging from the correspondence that ensued between the appellant and the respondent it is evident that the appellant was playing for time. Presumably the respondent was also hoping that the appellant would settle the balance outstanding for no action was taken either to sell the shares or to commence legal proceedings to recover the sum owed until some months later. Finally the respondent sold the shares for $46,945.20 leaving a balance of $13,174.59 on the overdraft account.

In the court below one of the questions raised by the appellant was that there was an oral agreement between him and the respond