Wan Hamazh J:

The plaintiffs caused a specially indorsed writ to be served on the defendants, claiming against the first defendant for an order of specific performance of an agreement dated 21 March 1975 whereby the first defendant agreed to buy from the plaintiffs 557,779 shares in Perforated Plates Sdn. Bhd. for $780,890.60, of which a sum of $78,089 had been paid as a deposit and claiming against the second defendant (as guarantors) for the balance of the purchase price which has not been paid amounting to $702,801.60, with interest. The plaintiffs now apply for judgment, contending that there are no triable issues. The defendants oppose the application. They do not dispute the facts alleged in the statement of claim, but they raise certain legal issues which they say can be disposed of only by trial. I find that it is not necessary to hold a trial to dispose of the legal issues raised, and that all of the legal issues can be disposed of now on the basis of the facts which have been placed before the Court and which are not disputed by the parties.

The agreement contains the following clause (cl. No. 5):

The purchaser agrees and undertakes to ensure that by or before