Abdul Malek J

By a consent order dated 22 February 1988 (encl 17) following a summons for directions (encl 13) filed on 2 January 1988, both parties had asked for the preliminary issue of 'whether the plaintiffs can sue for rescission on the agreement of 8 August 1984 as the house is not completed by 7 August 1986 which is the completion date' be first determined by arguments in open court on a date to be fixed by the senior assistant registrar.

It is necessary to refer to cl 7 of the relevant agreement (bundle A of encl 4) which provides that 'time shall be the essence of the contract in relation to all the provisions of this agreement and in particular to the payment of any instalment of the purchase price or any part thereof and the payment of all moneys due from the purchaser to the vendor under this agreement' (emphasis mine) and to cl 18(1) of the said agreement which states that 'the said building shall be completed by the vendor and vacant possession delivered to the purchaser within twenty-four (24) calendar months from the date of this agreement'.

However, cl 18(2) of that agreement stipulates that 'if the vendor fails to deliver vacant possession of the said building in