Rozana Ali Yusof J:

A. Introduction

[1] This is an appeal by the Appellant/Defendant against the decision of the learned Magistrate which was delivered on 26 July 2022 where the Magistrate has allowed the Respondent/Plaintiffs claim against the Appellant/Defendant for RM70,000.00 and dismissed the Appellant/Defendant's counterclaim for RM17,134.04.

[2] The parties in this appeal will be referred to as Plaintiff and Defendant as they were known in the Magistrate Court .

B. Background Of The Case

[3] The appeal herein emanates from the Plaintiff's initial investment with the Defendant for the purchase of cryptocurrency machines, Bitcoin Miner Machine ("the Machines"), for a sum of RM140,000.00. As it was a joint investment, both parties had invested a sum of RM70,000.00 each for the purchase of the Machines.

[4] On 4 December 2017, the Plaintiff had paid a sum of RM70,000.00 to the Defendant by way of Public Bank Cheque No 549930 ("the said Sum"). The said Sum was then used for the purchase of 5 of the Machines and this was within the knowledge of the Plaintiff. On or around early 2018, the Plaintiff and the Defendant had agreed for the said Sum to be converted to a friendly loan