30 Apr 1998
TOWN BRIGHT INDUSTRIES LTD. v. BERMUDA TRUST (HONG KONG) LTD. AND ANOTHER
- Citation
- TOWN BRIGHT INDUSTRIES LTD. v. BERMUDA TRUST (HONG KONG) LTD. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP3269/1997
The court held the Centre had constitutional and charter power to donate; the Executive Committee's resolution, the Chief Executive's letter directing the trustee and the trustee's acknowledgment, read together, constituted the written disposition required by s.5 CPO; unstamped instruments did not defeat proof of title where undertakings to stamp were given under s.15 Stamp Duty Ordinance; and the purchaser rescinded improperly without serving a notice making time of the essence, therefore the rescission was a breach and the summons was dismissed.