References: [2008] EWHC 86 (Ch)
Links: Bailii
Coram: Evans-Lombe J
The claimant sought specific performance of a contract to buy land from the defendant. The defendant sought summary dismissal of the claim and forfeiture of the deposit. It had been intended that the property would be ‘rolled over’ on a sub-sale. The owner refused to execute a transfer into the name of the eventual purchaser.
Held: The arrangements would have been possible, and the defendants’ failure amounted to a breach of contract. The defendants were not entitled to rescind the contract and forfeit the deposit.
Statutes: Finance Act 2003 45, Law of Property (Miscellaneous Provisions) Act 1994 2(1)(A)
This case cites:
- Cited – Union Eagle Limited -v- Golden Achievement Limited PC (Times 07-Feb-97, Bailii, [1997] UKPC 5, [1997] 2 WLR 341, [1997] AC 514, [1997] 2 All ER 215)
(Hong Kong) The parties had contracted with each other for the sale of land. Completion was to take place on the appointed day at 5:00pm. A ten per cent deposit had been paid, and time had been made of the essence. The seller sought to rescind the . . - Cited – Redwell Investments Ltd -v- 1-3 Cuba Street Ltd CA (Bailii, [2005] EWCA Civ 1799)
Lord Justice Chadwick considered what was meant by actual completion: ‘I accept, of course, that there is no absolute rule that completion takes place when title is transferred . . We were referred to no case in which it has been held that . . - Cited – Aero Properties Ltd and Another -v- Citycrest Properties Ltd and Another ChD (Gazette 21-Feb-02, [2000] 2 P&CR 21)
Contracts were entered into for the sale of five flats. Completion of each contract was conditional upon simultaneous completion of the others. Completion did not occur, and the defendant sellers issued a notice to complete, then rescinded the . .
