21 Jan 1999
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 Appeal
- Case number
- CACV137/1998
By majority the Court held the purchaser was not entitled to rescind on 29 September 1997: the Executive Committee had power and the direction/communications amounted to a disposition/direction sufficient in equity (on the facts and authorities) and the stamp objection was curable by vendor; the purchaser's rescission was premature and in breach, so vendor entitled to forfeit deposit, limited by agreement to HK$2,180,000.