6 Sept 1984
CHECKMATE ENTERPRISES LIMITED v. KUNG FAN BUN
- Citation
- CHECKMATE ENTERPRISES LIMITED v. KUNG FAN BUN
- Court
- Lands Tribunal
- Case number
- LDLA416/1984
The contractual interest provision was in the nature of a penalty and therefore unenforceable as to the penal rate; the Tribunal must determine actual loss and may take judicial notice of prevailing interest rates; on the evidence before it the Tribunal reduced the claimed rate from 3.5% to 1.5% per month and made the Rule 13A default orders accordingly.