25 Oct 2013
SUN CHAMP INVESTMENT LTD v. GREEN LEAVES TRADE INVESTMENT LTD
- Citation
- SUN CHAMP INVESTMENT LTD v. GREEN LEAVES TRADE INVESTMENT LTD
- Court
- District Court
- Case number
- DCMP706/2013
The defendant failed to answer several material requisitions (stamp duty undertaking for a deed of gift, compliance with a Building Authority s26 order, and supply of the survey plan) and thus failed to prove or give good title; those failures constituted an anticipatory/repudiatory breach before midnight on the completion date so the purchaser validly rescinded at 17:12 on 1 March 2013; the mid-night rule did not rescue the vendor because there was no realistic prospect of the vendor curing the defects by midnight; the clause for liquidated damages (equivalent to deposit) is a penalty and no…