[1] This appeal arose from the decision of the High Court (subsequently affirmed by the Court of Appeal) which had allowed the respondent's claim against the appellants for the sum of RM19,266,746.16 together with interest.

[2] For convenience, the respondent will be referred to as the plaintiff while the appellants will be referred to as the (1st and 2nd) defendants respectively in this judgment.

[3] We heard parties' respective submissions, reserved judgment, and upon due consideration deliver this judgment.

[4] This judgment is prepared and delivered pursuant to s 78(1) of the Courts of Judicature Act 1964 , as both Justice Zaharah Ibrahim, CJM and Justice Aziah Ali, FCJ have since retired. This judgment is therefore the judgment of the remaining members of the panel.

The Leave Questions

[5] This Court, on 17 August 2017 granted the defendants leave to appeal on the following Leave Questions:

Leave Question (i)

Whether a contr