Shaik Daud Ismail JCA:

Both the above appeals were heard together as they form the same transaction involving the purchaser, the vendors, the bank and solicitors over a purchase of lands.

The facts of the matter are not at all in dispute. Koh Guan Industries Sdn. Bhd. (the purchaser) entered into two sale and purchase agreements both dated 22 August 1994 (the agreements) with Lee Lee Fah, Fain Kee, Pan Soo Khyun, Pan Sek Kok, Pan Siew Ming and Pang Siew Kong (the vendors) whereby the vendors agreed to sell and the purchaser agreed to buy two pieces of land on lots 4012 and 813 in the Mukim of Rantau, Negeri Sembilan, at a purchase price of RM291,037.50.

Upon the execution of the agreements, the purchaser paid a deposit of RM29,103.75. By the terms of the agreements, the balance of the purchase price was to be paid on or before the completion date of the agreement, to the solicitors Messrs. Francis Yong, Sulastry & Co (the solicitors) as stakeholder. The pur