20 Apr 1998
LUXEBOND INVESTMENT LTD. v. SUPER ASIAN INVESTMENT LTD.
- Citation
- LUXEBOND INVESTMENT LTD. v. SUPER ASIAN INVESTMENT LTD.
- Court
- Court of First Instance
- Case number
- HCMP794/1998
Clause 2(b) is a payment clause that makes the purchaser's obligation to pay the second deposit contingent on signing of the formal agreement; absent an express provision making time of the essence the stipulated date is a target only, so the vendor's failure to sign by that date did not amount to a repudiatory breach and the purchaser was not entitled to rescind.