5 Nov 1998
TSANG YUK LAN AND ANOTHER v. LAU LAI
- Citation
- TSANG YUK LAN AND ANOTHER v. LAU LAI
- Court
- Court of First Instance
- Case number
- HCA8199/1997
The rider clause in the formal agreement was clear and unambiguous: if the purchaser is unable to obtain a mortgage from a bank in Hong Kong the purchaser is entitled to postpone completion to 31 July 1997. The Plaintiffs were unable to obtain the mortgage because their solicitors were not satisfied as to title; they validly postponed completion. The Defendant's demand on 23 July 1997 giving slightly over one hour to complete and purporting to forfeit the deposit was wrongful and amounted to a repudiatory breach. The Plaintiffs accepted the repudiation and were entitled to return of the depos…