23 Mar 2009
TSE PING SHUN DAVID AND ANOTHER v. LAI HO MAN SHAN GRACE AND ANOTHER
- Citation
- TSE PING SHUN DAVID AND ANOTHER v. LAI HO MAN SHAN GRACE AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA105/2006
Plaintiffs affirmed the contract despite earlier alleged breaches and failed to tender the further deposit and balance of the purchase price on the agreed completion date; accordingly Defendants validly accepted repudiation and forfeited the initial deposit of HK$500,000. The contract construed to require the formal agreement and verification steps before release of further deposit and allowed Defendants to rely on purchaser's payment on completion to discharge encumbrances.