PRICE CLUB LTD v. BIZSMART CONSULTANTS LTD

PRICE CLUB LTD v. BIZSMART CONSULTANTS LTD

The court held that, on the evidence (the DMC recitals, the First Schedule, the Control Card and the IO's certification) the four pent houses on the main roof are to be treated as factory spaces for the purposes of the DMC; the Vendor had thus answered the Requisition satisfactorily and demonstrated a good title such that specific performance of the SPA should be ordered.

Citation
[2019] HKCFI 2137
Parties
Vendor: Price Club Limited; Purchaser: BizSmart Consultants Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 August 2019
Case Number
HCMP556/2019
Procedural Posture
Miscellaneous Proceedings (hcmp 556/2019) / Judgment on Requisition and Order for Specific Performance
Outcome
Vendor's answer to requisition declared satisfactory; Vendor proved good title; SPA specifically performed.
Legal Topics
Title, Deed of Mutual Covenant, Requisition on Title, Specific Performance, Contract Interpretation
Source Language
EN
Conveyancing Property Contract Equity Title Deed of Mutual Covenant Requisition on Title Specific Performance +1 more

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Parties

Price Club Limited

Vendor

BizSmart Consultants Limited

Purchaser

Procedural Posture

Miscellaneous Proceedings (hcmp 556/2019) / Judgment on Requisition and Order for Specific Performance

Legal Issues

  1. 1 Whether the vendor has satisfactorily answered requisition no.2.3
  2. 2 Whether the Pent House C (the Property) is a 'Factory Space' under the DMC
  3. 3 Whether Clause 6 of the DMC prohibits the transaction or creates a real risk to title

Ratio Decidendi

The court held that, on the evidence (the DMC recitals, the First Schedule, the Control Card and the IO's certification) the four pent houses on the main roof are to be treated as factory spaces for the purposes of the DMC; the Vendor had thus answered the Requisition satisfactorily and demonstrated a good title such that specific performance of the SPA should be ordered.

Court Disposition

Vendor's answer to requisition declared satisfactory; Vendor proved good title; SPA specifically performed.

Orders

  • Declaration that the Vendor has satisfactorily and sufficiently answered the Purchaser's requisition no.2.3
  • Declaration that the Vendor has shown and proved a good title to the Property in accordance with the SPA