[1] This appeal has been brought against the decision of the High Court of Ipoh entering judgment for the respondent/plaintiff in the sum of RM663,000 and consequential relief. Judgment was also entered for the appellant/defendant on his counterclaim in the sum of RM100,640.99 together with interest and other ancillary relief. A cross appeal against judgment on the counterclaim has also been pursued before us.

[2] The main thrust of the appeal is directed against the judge's finding that the respondent had established a cause of action in the quasi-contractual claim for money had and received on the ground that there had been a total failure of consideration. In a carefully developed argument, Dato' Mahinder Singh has submitted that the statement of claim delivered by the respondent has failed to set out the essential ingredients to sustain an action for money had and receiv