2 Jul 1999
NEWTECH RICH LIMITED v. CHAN SHUK YIN ADA AND ANOTHER
- Citation
- NEWTECH RICH LIMITED v. CHAN SHUK YIN ADA AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA8726/1997
The Provisional Agreement, read objectively and in light of its terms (notably the phrase 'in the manner herein contained'), manifested an intention that novation (change of purchaser name) was the only method to effect the sale; the developer's refusal to agree to novation made performance impossible and the contract was therefore frustrated, entitling the Plaintiff to return of the HK$500,000 initial deposit and defeating the Defendants' counterclaim.