Federal Court of Australia
FEDERAL COURT OF AUSTRALIA CONTRACT - banker and customer - letter of approval for facility - three borrowers - provision that advance be cleared from initial sale of sub-divided lots - whether two of the borrowers able to enforce term against the bank. Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337, cited. COMMONWEALTH BANK OF AUSTRALIA V TERRENCE GOLBY AND TIMOTHY HUBERT GOLBY NG 692 OF 1997 BEAUMONT, BRANSON, SACKVILLE JJ. SYDNEY 18 MARCH, 1998
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NG 692 of 1997
ON APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA
BETWEEN: COMMONWEALTH BANK OF AUSTRALIA
Applicant
AND: terrence golby AND
timothy hubert golby
Respondents
JUDGES: BEAUMONT, BRANSON, SACKVILLE JJ
DATE OF ORDER: 18 march, 1998
WHERE MADE: SYDNEY
THE COURT ORDERS THAT: 1. The appeal be dismissed. 2. The appellant pay the respondents' costs of the appeal. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NG 692 of 1997
oN APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA
BETWEEN: COMMONWEALTH BANK OF AUSTRALIA
Applicant
AND: TERRENCE GOLBY and TIMOTHY HUBBERT GOLBY
Respondent
JUDGES: BEAUMONT, BRANSON AND SACKVILLE JJ.
DATE: 18 MARCH 1998
PLACE: SYDNEY
REASONS FOR JUDGMENT BEAUMONT J: I have had the benefit of reading the reasons of Sackville J, and I agree with them. I would only wish to emphasise that the case turns entirely on the express terms of the contract; that is to say, the case does not call for consideration of the liability of a financier to a surety under the general law (see, e.g., C E F Rickett,"The Financier's Duty of Care to a Surety", (1998) 114 LQR 17). The appeal should be dismissed, with costs. I certify that this page is a true copy of the Reasons for Judgment herein of the Honourable Justice Beaumont
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