Union Eagle Limited v Golden Achievement Limited: PC 3 Feb 1997

(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 contract when the buyer was 10 minutes late in tendering the completion money.
Held: Equity will not prevent the rescission of a land contract for delay in completion. If time was of the essence, strict compliance must have been what was intended.
Lord Hoffmann, Lord Goff of Chieveley, Lord Griffiths, Lord Mustill, Lord Hope of Craighead
Times 07-Feb-1997, [1997] UKPC 5, [1997] 2 WLR 341, [1997] AC 514, [1997] 2 All ER 215
Bailii
Citing:
CitedWorkers Trust and Merchant Bank Ltd v Dojap Investments Ltd PC 22-Feb-1993
(Jamaica) The purchaser at an auction had been obliged under the terms of the auction contract to pay a deposit of 25%. He failed to complete, and the vendor took the deposit by way of forfeit. The standard deposit payable would be 10%. The Court of . .

Cited by:
CitedDun and Bradstreet Software Services (England) Ltd; Dun and Bradstreet Software Services Ltd v Provident Mutual Life Assurance Association and General Accident Linked Life Assurance CA 9-Jun-1997
Break clauses had been exercised on behalf of the plaintiffs. The defendant landlords appealed a decision upholding the notices. A penalty rent had been sought.
Held: There had been no sufficient agency established to validate the notice. The . .
CitedKalatara Holdings Ltd v Benedict Thomas Andersen and Another Chd 25-Jan-2008
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. . .
CitedChinnock v Hocaoglu and Another CA 29-Oct-2008
The parties had contracted for the sale of a property subject to a residential tenancy under the 1987 Act. The purchaser appealed refusal of specific performance, the court having found that it had failed to meet a precondition for serving a notice . .

These lists may be incomplete.
Updated: 03 January 2021; Ref: scu.159217