18 May 2015
DE MONSA INVESTMENTS LTD v. RICHLY BRIGHT INTERNATIONAL LTD, 823 INVESTMENT LTD
- Citation
- DE MONSA INVESTMENTS LTD v. RICHLY BRIGHT INTERNATIONAL LTD, 823 INVESTMENT LTD
- Court
- Court of Final Appeal
- Case number
- FACV12/2014
Where an ultimate purchaser in a chain of sub-sales fails to complete, his contractual liability is limited to losses that were within his reasonable contemplation and of the type he can be taken to have assumed responsibility for; on these facts De Monsa’s liability was limited to forfeiture of its agreed 10% deposit (HK$13,586,400) and not to upstream forfeited deposits, indemnities or agent liquidated damages which were too remote and not assumed responsibilities under the contract.