Share Transfer Non-Performance and Rescission

The case involved a dispute arising from a contract where a party failed to fulfill obligations regarding the transfer of shares, leading to a claim for rescission and damages based on the other party's non-performance. The lower court had ruled for the non-performing party, essentially excusing their breach due to circumstances that arose after the contract's conclusion. The highest court quashed this decision, reasoning that the failure to perform a primary contractual obligation constitutes a serious breach justifying rescission and damages, and that subsequent events, unless qualifying as *force majeure* or justifying termination under the contract terms, do not excuse the initial non-performance or negate the right of the injured party to seek remedy.