Cheung Kong Property (Business Development) Ltd v Gold Brilliant Investment Ltd & Pan Sutong

A contractually granted right of first refusal contained in a deed is enforceable according to its terms, and the grantor's breach sounds in damages (including for loss of a chance) determined on the construction of the deed; conduct or commercial gestures will only found an estoppel or waiver where they amount to a clear and unequivocal representation, not mere negotiation posturing.