24 Sept 1999
BROAD MONEY DEVELOPMENT LTD. v. INDUSTRIAL ENGINEERS LTD.
- Citation
- BROAD MONEY DEVELOPMENT LTD. v. INDUSTRIAL ENGINEERS LTD.
- Court
- Court of Appeal
- Case number
- CACV101/1999
The Court held the vendor acted reasonably in rescinding the contract and accepting a firm offer from a new purchaser; under Clause 8(b) the vendor was entitled to recover its actual loss including the resale deficiency, interest, management fees, government rates and legal costs; the master’s certificate was therefore correct except that the estate agent’s commission must be reduced by HK$115,200, and the appeal was dismissed save for that reduction.