agreement of salebreachcancellationrefunddamagescontractual penalties
Tags
contract lawproperty salebreach of contractdamagesrefund
legislation
Statutes Cited
Contractual Penalties Act
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether plaintiff entitled to refund of US$432,000 deposit","issue_type":"mixed","dispositive":"yes","related_facts":"Plaintiff's breach, payment of deposit, clause 7:2 provisions"}
{"issue_text":"Whether defendant complied with Contractual Penalties Act in cancelling contract","issue_type":"law","dispositive":"no","related_facts":"Cancellation process, notice requirements"}
{"issue_text":"Whether defendant entitled to US$868,000 damages","issue_type":"mixed","dispositive":"yes","related_facts":"Resale price difference, loss quantification"}
{"issue_text":"What orders should be made","issue_type":"procedural","dispositive":"no","related_facts":"Both claims lack merit"}
This summary was generated by AI. Use Zalari to read the full judgment.
background
Facts of the Case
Background
The plaintiff and defendant entered into a written agreement of sale for a property on 6 June 2021 for US$2.5 million. The plaintiff paid US$432,000 but failed to pay the balance, leading to cancellation of the agreement. The plaintiff claimed refund of the deposit while the defendant counterclaimed for damages of US$868,000 after reselling the property for US$1.2 million.
Read the full judgment, get AI analysis, and find related cases