20 Apr 2017
RICACORP PROPERTIES LTD v. CHEUNG WAI LUN
- Citation
- RICACORP PROPERTIES LTD v. CHEUNG WAI LUN
- Court
- District Court
- Case number
- DCCJ2323/2014
The PASP was valid and binding; the only condition effectively communicated on formation was the price cap (up to HK$4,320,000 mis‑entered as HK$432,000). The agent adequately explained material terms and obtained defendant's assent to further deposit and completion dates by telephone; regulatory sanction was non‑consequential. Therefore the defendant breached the PASP and is liable to pay liquidated damages of HK$86,000; the defendant's counterclaim and alleged afterthought conditions fail.