Ismail Khan J:

This action arises out of an agreement in writing dated the 7 May 1955, whereby the defendant, as the registered proprietor and beneficial owner of a piece of land comprised in EMR No. 3624 Lot No. 2286, in the Mukim of Setapak, in the Town and District of Kuala Lumpur, agreed to sell and the plaintiff agreed to purchase a defined portion thereof containing in area of approximately 11,700 square feet described as Lot 1, upon sub-division of the land into lots and issue of new title, for the sum of $7,150 and upon terms and conditions specified therein. A sum of $3,650 was deposited with the defendant on the said date in terms of cl 1 of the agreement. Clause 2, over which the main controversy arises, provides:

On the issue of new titles in respect of Lot No. 1 the vendor shall execute in favour of the purchaser or his nominee a registrable memorandum of transfer of the land comprised in the said Lot No. 1 on payment to the vendor's Solicitors of the balance of Dollars Three thousand five hundred ($3,500) due for the said lot. Provided always that if the purchaser does not deposit the balance of $3,500 with the vendor's Solicitors within fourteen (14) days o