TAN YANG LONG & ANOR. V. NEWACRES SDN. BHD.

TAN YANG LONG & ANOR. V. NEWACRES SDN. BHD.

The assignment was in substance a charge leaving legal title and capacity to sue with the plaintiffs; defendants' failure to complete by the contractual date and their continued refusal to provide credible assurance amounted to a fundamental breach and renunciation entitling plaintiffs to rescind; liquidated damages payable day to day are not an exclusive remedy preventing rescission; plaintiffs were entitled to repayment of RM47,316 with interest and to have damages assessed.

Citation
TAN YANG LONG & ANOR. V. NEWACRES SDN. BHD.
Parties
Plaintiffs: Tan Yang Long & Anor.; Defendant: Newacres Sdn. Bhd.; Co Defendant/third Party: Metroplex Leasing and Credit Corporation Sdn. Bhd.
Court
Malaysian court
Jurisdiction
Malaysia
Judgment Date
1991
Procedural Posture
Originating Summons / Judgment
Outcome
Judgment for the plaintiffs; repayment and interest ordered; damages to be assessed; leave to appeal granted.
Legal Topics
Rescission, Liquidated Damages, Assignment Vs Charge, Locus Standi, Time Being of the Essence, Leave to Appeal, Damages Assessment, Stay of Execution
Source Language
en
Contract Law Property Law Equity Civil Procedure Housing Development Law Rescission Liquidated Damages Assignment Vs Charge +5 more

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Parties

Tan Yang Long & Anor.

Plaintiffs

Newacres Sdn. Bhd.

Defendant

Metroplex Leasing and Credit Corporation Sdn. Bhd.

Co Defendant/third Party

Procedural Posture

Originating Summons / Judgment

Legal Issues

  1. 1 Whether the so‑called assignment deprived plaintiffs of locus standi to sue
  2. 2 Whether plaintiffs validly rescinded the sale and purchase agreement for failure to complete by the contractual date
  3. 3 Whether liquidated damages under the Housing Developers (Control and Licensing) Act/contract are the sole and exclusive remedy and when such cause of action accrues

Ratio Decidendi

The assignment was in substance a charge leaving legal title and capacity to sue with the plaintiffs; defendants' failure to complete by the contractual date and their continued refusal to provide credible assurance amounted to a fundamental breach and renunciation entitling plaintiffs to rescind; liquidated damages payable day to day are not an exclusive remedy preventing rescission; plaintiffs were entitled to repayment of RM47,316 with interest and to have damages assessed.

Court Disposition

Judgment for the plaintiffs; repayment and interest ordered; damages to be assessed; leave to appeal granted.

Orders

  • Defendants ordered to pay RM47,316 with interest up to date to the plaintiffs within seven days
  • No stay of execution