Deposits, penalties and relief
Deposits, penalties and relief
- 1993
- Estates Gazette (9320) 22 May 1993, 122(1) .
Deposits on the sale of land, usually 10% of the contract price, can be seen to be similar to penalties in building contracts, but the courts of equity do not treat them in the same manner. The privilege land enjoys was explored in the case "Dojap investments Ltd v Workers Trust and Merchant Bank Ltd" (1993).
EQUITABLE RELIEF
LIQUIDATED DAMAGES
Deposits on the sale of land, usually 10% of the contract price, can be seen to be similar to penalties in building contracts, but the courts of equity do not treat them in the same manner. The privilege land enjoys was explored in the case "Dojap investments Ltd v Workers Trust and Merchant Bank Ltd" (1993).
EQUITABLE RELIEF
LIQUIDATED DAMAGES