17 Jul 2012
HONG JING CO LTD v. ZHUHAI KWOK YUEN INVESTMENT CO LTD
- Citation
- HONG JING CO LTD v. ZHUHAI KWOK YUEN INVESTMENT CO LTD
- Court
- Court of Appeal
- Case number
- CACV254/2011
Court held that the P's MOU imposed an obligation on the defendant, beyond mere exclusivity, to approach and seek an agreement with BOCGI and that a duty to use best or reasonable endeavours in good faith could be implied; Asset Proof (bank reference plus HK$50m earnest money) was not a condition precedent and was treated as sufficient by the defendant; the defendant was found to have committed breaches (delay and double dealing) though factual deficiencies in the first instance findings (including the change-of-stance issue and attribution of negotiations) required the matter to be remitted…