George v Roach [1942] HCA 22

67 C.L.R.] OF AUSTRALIA. 253 {HIGH COURT OF AUSTRALIA.) GEORGE 4 5 5 2 : . APPELLANT ; DEFENDANT, AND ROACH . 2 de : e : 2 : . RESPONDENT. PLAINTIFF,

ON APPEAL FROM THE SUPREME COURT OF SOUTH AUSTRALIA.

Contract—Sale of business at price to be fixed by valuation—Valuation to be not less H. 0.

than specified amount for every pound profit—Refusal of valuer to value—Waiver 1949,

by vendor—Recovery back of moneys paid. aie A contract for the sale of an agency provided that it should be purchased ee ept. 18.

at the value placed on it by a named valuer and that such valuation should

be not less than eighty-five pounds for every one pound profit per week. The MELnourne,

valuer refused to value. The vendor purported to waive his right toa valuation Oct. 9.

and offered to accept eighty-five pounds for every one pound profit per week HarenGHa

as the value. Rich and " ehrsd Starke JJ.

Held, by Rich and Starke JJ. (Latham C.J. dissenting), that the provision for valuation was not for the sole benefit of the vendor and could not be waived by him and that the purchaser was entitled to recover back from the vendor moneys paid on account of the price.

Decision of the Supreme Court of South Australia (Angas Parsons J.): Roach v. George, (1942) S.A.S.R. 49, affirmed.

Arvxat from the Supreme Court of South Australia.

An agreement in writing dated 24th March 1941 between Lloyd George (the vendor) and Clifford Francis Angel (the purchaser) contained the following provisions :—"The vendor agrees to sell to the purchaser or his nominee and the purchaser agrees to buy goodwill, stock, plant (as set forth in the schedule hereto) newspaper and other agencies (excepting Radiola wireless agency) and lease of the vendor's business situated at Port Lincoln on the following terms and conditions :

H.C. or A. 1942. eo JEORGE