ULTRA RACING (M) SDN BHD HAI SOON LEONG SDN. BHD.

ULTRA RACING (M) SDN BHD HAI SOON LEONG SDN. BHD.

Time had been rendered non‑essential by the Vendor’s conduct (multiple extensions and allowing registration), the purchaser’s failure to pay on time did not go to the root of the contract and termination was caused or substantially contributed to by the Vendor; therefore termination was void and specific performance of the SPA was ordered subject to payment of late payment interest up to 18.10.2019 and costs.

Citation
BA-24NCvC-1485-10/2019 (Mahkamah Tinggi)
Parties
Purchaser / Plaintiff: Hai Soon Leong Sdn Bhd; Vendor / Defendant: Ultra Racing (M) Sdn Bhd
Court
High Court
Jurisdiction
Malaysia
Judgment Date
26 April 2022
Case Number
BA-24NCvC-1485-10/2019 (Mahkamah Tinggi)
Procedural Posture
Civil Dispute Sale and Purchase of Property / High Court Judgment (final)
Outcome
OS.1031 allowed — specific performance granted; OS.1485 dismissed.
Legal Topics
Specific Performance, Termination/rescission, Time of the Essence, Late Payment Interest, Forfeiture of Deposit, Estoppel, Unconscionability
Source Language
Malay/English
Contract Law Property Law Equity Civil Procedure Real Property Registration Specific Performance Termination/rescission Time of the Essence +4 more

Case Brief

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Parties

Hai Soon Leong Sdn Bhd

Purchaser / Plaintiff

Ultra Racing (M) Sdn Bhd

Vendor / Defendant

Procedural Posture

Civil Dispute Sale and Purchase of Property / High Court Judgment (final)

Legal Issues

  1. 1 Whether the Sale & Purchase Agreement (SPA) remained valid and enforceable
  2. 2 Whether the Vendor validly terminated the SPA
  3. 3 Whether time was of the essence

Ratio Decidendi

Time had been rendered non‑essential by the Vendor’s conduct (multiple extensions and allowing registration), the purchaser’s failure to pay on time did not go to the root of the contract and termination was caused or substantially contributed to by the Vendor; therefore termination was void and specific performance of the SPA was ordered subject to payment of late payment interest up to 18.10.2019 and costs.

Court Disposition

OS.1031 allowed — specific performance granted; OS.1485 dismissed.

Orders

  • Specific performance of the Sale & Purchase Agreement dated 25.10.2018 granted in favor of Hai Soon Leong Sdn Bhd.
  • Purchaser to pay late payment interest at 8% per annum calculated up to 18.10.2019.