LI YEK LEUNG v. LIU MAN BUN AND ANOTHER

LI YEK LEUNG v. LIU MAN BUN AND ANOTHER

The court found as a matter of fact that the purchasers had performed and were ready to complete, that the solicitor held the purchase monies as agent for the vendor under the agreement (clauses 13-15), and that the vendor's refusal to complete constituted breach; accordingly specific performance was granted to the purchasers and the vendor's counterclaim was dismissed.

Citation
LI YEK LEUNG v. LIU MAN BUN AND ANOTHER
Parties
1st Plaintiff: Liu Man Bun; 2nd Plaintiff: Liu Chan Ping Yi; Defendant: Li Yek Leung
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
31 October 1985
Case Number
HCA7020/1984
Procedural Posture
Contract (sale of Property) / Judgment (trial)
Outcome
Judgment for the plaintiffs (purchasers). Specific performance granted. Counterclaim by the vendor dismissed.
Legal Topics
Specific Performance, Breach of Contract, Completion of Sale, Solicitor as Agent Vs Stakeholder, Damages, Deposit Forfeiture
Source Language
EN
Contract Property Equity Agency Specific Performance Breach of Contract Completion of Sale Solicitor as Agent Vs Stakeholder +2 more

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Parties

Liu Man Bun

1st Plaintiff

Liu Chan Ping Yi

2nd Plaintiff

Li Yek Leung

Defendant

Procedural Posture

Contract (sale of Property) / Judgment (trial)

Legal Issues

  1. 1 Whether vendor breached the sale agreement by failing to complete on time
  2. 2 Whether the solicitor held the purchase monies as agent for the vendor or as stakeholder on behalf of the purchasers
  3. 3 Whether the purchasers were ready, willing and able to complete

Ratio Decidendi

The court found as a matter of fact that the purchasers had performed and were ready to complete, that the solicitor held the purchase monies as agent for the vendor under the agreement (clauses 13-15), and that the vendor's refusal to complete constituted breach; accordingly specific performance was granted to the purchasers and the vendor's counterclaim was dismissed.

Court Disposition

Judgment for the plaintiffs (purchasers). Specific performance granted. Counterclaim by the vendor dismissed.

Orders

  • Specific performance of the Sale and Purchase Agreement in favour of the purchasers
  • Counterclaim by the vendor dismissed