Read the full judgment text of CACV 000221/1996 on BabelCite. This Court of Appeal judgment was delivered on 16 January 1997.
1. The appellant/plaintiff is an insubstantial company. It is not in dispute that the appellant will not be able to meet the appeal costs should it fail in its prosecution. The appeal arises in this way. $2 1/2 million was paid as a deposit for the performance of a contract for the sale of land. The $2 1/2 million represented 20% of the purchase price. The appellant was allegedly in default and the 20% deposit was thereupon forfeited. The appellant claims the return of the 20% deposit in the sum