PERIOD OF LIMITATION (WILLIAMS V GREATREX) Facts : On May 1946, a purchaser agreed to buy land to be laid out in building plots

from the vendor. Clause 3 stated the purchase shall be completed within 2 years from the date of payment of the deposit. On October 1946, the purchaser paid deposits, then entered on the land and did much work on it. Later, on April 1947, the vendor came on to the land and ordered the purchaser off. The purchaser stopped the building work, and he took no step to complete the contract. On December 1955, a third party entered on the land to carry out work on the basis of a purported sale on the land to him by the vendor. It was only on 1956 that the purchaser brought an action for specific performance against the vendor. Principle: A delay in action for specific performance does not defeat the right of a purchaser who had taken possession of the said land, as he held equitable interest/title to the said land. So long as he was in possession of the land, he does not lose his rights simply by not proceeding at once for specific performance. Judgment: This is merely an agreement for the sale of land and not a commercial transaction, therefore time was not of essence and the failure of the parties to complete within the stipulated 2 years was not a bar to the present action. The purchaser was entitled to specific performance as he had paid the deposits and having entered into possession of the land, became the equitable owner of the land. The appeal by the defendant (vendor) was dismissed.