Bao v Li [2022] NSWSC 1335

Supreme Court New South Wales

Medium Neutral Citation: Bao v Li [2022] NSWSC 1335 Hearing dates: 15 – 18 August 2022 Decision date: 30 September 2022 Jurisdiction: Equity Before: Peden J Decision: (1) The parties are to confer and provide agreed short minutes of order reflecting this judgment and appropriate costs orders to my Associate within 7 days of the publication of this judgment. (2) Should the parties not be able to agree, the parties are to provide their competing short minutes together with submissions of no more than 2 pages and any necessary evidence, within 10 days of the publication of this judgment. Catchwords: EQUITY — Trusts and trustees — Express trusts — Intention to create — Statute of Frauds — Requirement of writing — Part performance — No question of principle CONTRACTS — Formation — Conditional promises — Whether contract labelled "draft agreement" is subject to contract or binding Legislation Cited: Conveyancing Act 1919 (NSW) Foreign Acquisitions and Takeovers Act 1975 (Cth) Cases Cited: Air Great Lakes v KS Easter Holdings Pty Ltd (1985) 2 NSWLR 309 Bassett v Cameron [2021] NSWSC 207 Baumgartner v Baumgartner (1987) 164 CLR 137 Ciaglia v Ciaglia [2010] NSWSC 341 GR Securities Pty Ltd v Baulkham Hills Private Hospital Pty Ltd (1986) 40 NSWLR 631 Hillas & Co Ltd v Arcos Ltd [1932] 1 All ER 494 Huang v Fu [2011] NSWSC 316 Ikeuchi v Liu [2001] QSC 54 James v Faddoul [2006] NSWSC 1330 Loureiro v Mac Aus Unit Pty Ltd (No 2) [2022] NSWSC 226 Maddison v Alderson (1883) 8 App Cas 467 Masters v Cameron (1954) 91 CLR 353 Meshumar v Otmy (2018) 97 NSWLR 615 Morris v Morris (1982) 1 NSWLR 61 Muschinski v Dodds (1985) 160 CLR 583 Pipikos v Trayans (2018) 265 CLR 522 Powercell Pty Ltd v Cuzeno Pty Ltd [2004] NSWCA 51 Regent v Millett (1976) 133 CLR 679 Rosebanner Pty Ltd v Energy Australia [2009] NSWSC 43 Szetu v Situ (No 2) [2019] NSWSC 1312 Tooth & Co Ltd v Bryen (No 2) (1922) 22 SR (NSW) 541 Vlahos v Vlahos [2017] VSCA 166 West v Mead [2003] NSWSC 161 Category: Principal judgment Parties: Zhong Bao (Plaintiff) Cheryl Shu Yan Li (First Defendant and Cross-Defendant) Zhiyong Tao (Second Defendant and Cross-Claimant) Representation: Counsel: S Burchett (Plaintiff) T Cleary (First Defendant and Cross-Defendant) C H Truong KC with H Atkin (Second Defendant and Cross-Claimant)