JUDGMENT

Peh Swee Chin FCJ:

We have earlier allowed the appeal of the appellants, setting aside the order of the Court below dated 28 December 1993 and granting specific performance with consequential directions, with costs here and below. We indicated that we would give our grounds of judgment and we hereby do so now.

The appellants (hereinafter called the purchasers) and the respondents (hereinafter called the vendors) entered into a sale and purchase agreement dated 28 December 1979 in respect of a piece of land, and relevant for the purpose of this appeal are cls. 3, 11 and 16 thereof which are set out below:

3. The purchaser shall deposit the balance of the purchase price amounting to Ringgit Eighty-Six Thousand Two Hundred and Fifty Six (RM86,256) with the vendors' solicitors Dr. Stephen Goh & Partners, Advocates & Solicitors of 6th Floor, Pudu Building, Pudu Road, Kuala Lumpur as stakeholders (hereinafter called 'the vendors' solicitors') within seven (7) days of receipt of the Order of Court approving the sale of the said land.

11. Time wherever mentioned shall be deemed to be of the essence of this agreement.

16. Any notices required to be given under the provisions of