JUDGMENT

AV Winslow J:

The plaintiff is a merchant and the defendants are land and housing developers known as Lucky Park (Pte.) Ltd. On 18 September 1969, according to the plaintiff, he entered into a contract to purchase from the defendants for $52,000 a piece of land with a semi-detached house to be built thereon by about the end of December 1971 at Lucky Park Estate, Annamalai Avenue, Singapore.

It is undisputed that a receipt signed on behalf of the defendants as at Exh. AB1 was issued to the plaintiff on that date as follows:

Singapore, 18 September 1969

Received from Mr. Yeo Long Seng the sum of Dollars Five hundred only being booking fee for the purchase of P/Lot No. 16, Phase III, Lucky Park.

$500

Cheque OUB AA 221086

Signed

Collector

At the same time, a letter, AB2, signed by the plaintiff agreeing to certain terms as follows was delivered to the defendants at their office:

PHASE III

Re: P/Lot No. 16, (Type B) Two-Storey Semi-Detached House, approx. Land Area: 3423 sq ft at Lucky Park Estate, Annamalai Avenue, Singapore

I, the intending purchaser of the above property hereby agree and confirm to purchase the above property under the following terms and conditio