JUDGMENT

Azmi LP:

This is an appeal by the plaintiffs, administrators of the estate of Ng Lye Hoong (f) deceased, against the judgment of the High Court dismissing their claim for the return of $10,000, deposited by the deceased with the defendant, a company incorporated in Malaysia and the owner of a housing estate situated in Kuala Lumpur.

On 23 April 1964, Ng Lye Hoong to whom I shall refer as the deceased, during her life-time executed a printed document marked as Exh. P3, under which she confirmed her intention to purchase from the defendant company a three storey shophouse in Jalan Tiong in Kuala Lumpur at a price of $88,750. She paid the defendant company $10,000 on the execution of the exh. P3.

Clauses 3 and 4 of Exh. P3 read as follows:

Clause

3: I/We will enter into formal agreement in the form and on such terms and conditions as your solicitors shall prescribe within fourteen (14) days from your giving notice requiring me/us to do so (time being of the essence). Failure to comply with such notice shall entitle you to forfeit the said deposit as liquidated damages and this agreement shall become null and void and of no further effect and I/we shall not be entitled to