10 Apr 2014
CHEUNG KIT LAI AND ANOTHER v. RICH PROSPER LTD AND ANOTHER
- Citation
- CHEUNG KIT LAI AND ANOTHER v. RICH PROSPER LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA972/2011
The court found the DLO's extraordinary delay (four years and eight months) and resulting drastic increase in premium and related liabilities rendered performance of the Agreement by the chargee-vendor materially and radically different from what was contracted; an implied condition precedent was rejected as unnecessary and inconsistent with the integrated agreement; therefore the contract was frustrated and discharged, entitling the Plaintiffs to return of the deposit.