2 Oct 2024
SPLENDID APEX SDN BHD LION HOLDINGS SDN BHD
- Citation
- WA-22NCvC-583-09/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCvC-583-09/2020 (Mahkamah Tinggi)
The court held that payment of the purchase price was conditional upon the Defendant fulfilling its seller obligations and appointing a stakeholder (condition precedent); the Defendant terminated the Agreement before performing those obligations and therefore breached the contract; clause 7.7 prevented treating non-payment as an event of default pending the Effective Date; accordingly the termination was invalid, the contract was declared void and the Defendant was ordered to restore monies received under section 66 Contracts Act 1950.