Leitch, David Henry v Natwest Australia Bank [1995] FCA 818

CATCHWORDS CONTRACT - Alleged oral contract - whether terms as alleged agreed between the parties - subsequent contract in writing inconsistent with alleged oral contract - whether common intention to be immediately bound - objective common intention - agreement to enter into a contract subject to terms being satisfactory not an enforceable contract - second alleged oral contract - whether oral agreement to extend loans and facilities - evidence against agreement pleaded and contended for. TRADE PRACTICES - Misleading and deceptive conduct - representations - claim dependent on finding that oral agreement as alleged was made - no pleading of loss or damage - evidence that alleged representations not relied upon - unconscionable conduct - s.52A (s.51AB) of Trade Practices Act - "goods or services of a kind ordinarily acquired for personal, domestic or household use or consumption" - whether s.51AA(1) Trade Practices Act retrospective in effect - whether action statute barred by s.87(1CA)(a) Trade Practices Act - cause of action accrues when loss or damage likely to be suffered. UNCONSCIONABLE CONDUCT - Discussion of equitable principles - relative financial strengths and circumstances - whether unconscionable delay - whether terms of agreement unconscionable - separate and independent advice. NEGLIGENCE - Whether receiver and manager negligent in conduct of receivership - whether management of assets and decisions made during receivership amounted to negligent conduct - receivership conducted according to standard of reasonably competent professional in the circumstances - no credible evidence of negligent acts or omissions or negligent mismanagement. DAMAGES - Contractual damages - expectation loss and reliance loss - damages under the Trade Practices Act - tortious damages - principles governing the subject matter and measure of damages - no application of these principles to identification of loss allegedly sustained or the value of it - comparison of "global net worth" of group of companies - sum claimed as group entitlement and as recoverable as a joint loss - no credible evidence that any expectation or reliance loss sustained by any of applicants. WORDS AND PHRASES - "goods or services of a kind ordinarily acquired for personal, domestic or household use or consumption" - "global net worth". Bankruptcy Act 1966 (Cth) ss.60(2), (3) Trade Practices Act 1974 (Cth) ss. 51AA, 51AB, 52A, 82, 87 Trade Practices Legislation Amendment Act 1992 (Cth) Masters v. Cameron (1954) 91 CLR 353 - Appl. Australian Broadcasting Corporation v. XIVth Commonwealth Games Ltd (1988) 18 NSWLR 540 - Appl. Gussing v. Gussing [1977] AC 886 - Appl. Ashington Piggeries Ltd v. Christopher Hill [1972] AC 441 - Appl. Sinclair Scott & Co Ltd v. Naughton (1929) 43 CLR 310 Rossiter v. Miller (1878) 3 App. Cas. 1124 Von Hatzfeldt-Wildenburg v. Alexander (1912) 1 Ch. 284