Where a purchaser does not accept repudiation of a contract for sale of land and reasonably pursues specific performance, damages are assessed at the date the contract is lost (not the date of breach), and the actual sale price at that date is the best evidence of market value; claims for consequential losses such as increased building costs on a substitute property, rental payments, and interest on financing must be proven on the evidence and must satisfy the remoteness test in Hadley v Baxendale.
The full text is available to signed-in members, including the 5 later cases that cite this judgment.