JUDGMENT
INTRODUCTION
The plaintiff is a limited liability company engaged in selling equipment and machinery, whilst the defendant is a company engaged in construction works and providing building materials for building projects. On 4th October 2019, the parties entered into an Asset Purchase Agreement (“the Agreement”), in which the plaintiff agreed to sell, and the defendant agreed to purchase a complete set of equipment and machinery (equipment) at the price of one million US dollars ($1,000,000.00). Pursuant to the Agreement, the defendant was required to make an upfront payment of two hundred thousand US dollars ($200,000.00) upon the execution of the Agreement in order to take possession of the equipment. As per the Agreement, the balance of eight hundred thousand US dollars ($800,000.00) was to be paid by the defendant in eight (8) equal instalments of one hundred thousand US dollars ($100,000.00) payable monthly from the date of execution of the Agreement. The defendant made a …