Ye v Fang [2020] NSWSC 687

Supreme Court New South Wales

Medium Neutral Citation: Ye v Fang [2020] NSWSC 687 Hearing dates: 4 – 6 May 2020; 20 May 2020 Date of orders: 03 June 2020 Decision date: 03 June 2020 Jurisdiction: Equity Before: Darke J Decision: Plaintiff lender held entitled to recover amount unpaid under Loan Agreement. Declaration made that plaintiff has equitable charge over a property owned by the first defendant. Catchwords: CONTRACTS – formation – whether binding oral loan agreement made – parties intended to be immediately bound to agreed terms albeit that it was contemplated that a written agreement would be entered into later – advances made in accordance with agreement – subsequent agreement to make another advance – agreement a separate agreement not a variation of existing agreement – separate agreement not part of pleaded case – written Loan Agreement does not include further advance – lender entitled to recover amount due under Loan Agreement – amount secured by equitable charge granted under Loan Agreement Legislation Cited: Civil Procedure Act 2005 (NSW), s 100 Cases Cited: Baulkham Hills Private Hospital v GR Securities Pty Ltd (1986) 40 NSWLR 622 Equuscorp Pty Ltd v Glengallan Investments Pty Ltd (2004) 218 CLR 471; [2004] HCA 55 Masters v Cameron (1954) 91 CLR 353 Pavlovic v Universal Music Australia Pty Ltd (2015) 90 NSWLR 605; [2015] NSWCA 313 Roberts v Investwell Pty Ltd (in liquidation) [2012] NSWCA 134 Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165; [2004] HCA 52 Category: Principal judgment Parties: Wei Ye (Plaintiff) Fan Fang (First Defendant/First Cross-Claimant) Fang Fan Pty Ltd (Second Defendant/Second Cross-Claimant) Guantao & CS Lawyers Pty Ltd (Cross-Defendant) Representation: Counsel: Mr A Hopkins (Plaintiff) Mr J C Lee (Defendants/Cross-Claimants) Mr I Griscti (Cross-Defendant)