Read the full judgment text of on BabelCite. was delivered on 27 October 1998.
1. The background of this case is uninvolved. On 28 June 1992, a Provisional Agreement for Sale and Purchase was signed. For a consideration of $4.8 M, the appellant agreed to sell to the respondent a Braemar Hill Mansions flat. An initial deposit of $200,000 was thereupon paid. It was envisaged that upon the signing of the Formal Agreement for Sale and Purchase, a further deposit was to be paid, but that did not come about.