Eun Ju Park v Chong Eun Yi as executor of the late Young Ja Yi [2024] NSWSC 294

Supreme Court New South Wales

Medium Neutral Citation: Eun Ju Park v Chong Eun Yi as executor of the late Young Ja Yi [2024] NSWSC 294 Hearing dates: 13-14 March 2024 Date of orders: 22 March 2024 Decision date: 22 March 2024 Jurisdiction: Common Law Before: Elkaim AJ Decision: 1. Judgment for the plaintiff in the sum of $537,500. 2. The cross-claim is dismissed. 3. The defendant is to pay the plaintiff's costs of the proceedings. 4. I will hear the parties on any alternative costs order. Catchwords: CONTRACTS – formation – whether the Loan Agreement is a deed – whether forbearance to sue is sufficient consideration – whether the deceased had mental capacity to create the Loan Agreement – whether the deceased was under undue influence when creating the Loan Agreement – whether the plaintiff engaged in unconscionable conduct – whether the interest component of the Loan Agreement is a penalty – whether the reference to $300,000 in the Loan Agreement is a reference to the $300,000 bequeathed to the plaintiff in the deceased's will – held the Loan Agreement is valid and enforceable Legislation Cited: Contracts Review Act 1980 (NSW), s 7 Conveyancing Act 1919 (NSW), s 38 Family Law Act 1975 (Cth), s 90C Succession Act 2006 (NSW) Cases Cited: Andrews v Australia and New Zealand Banking Group Ltd (2012) 247 CLR 205; [2012] HCA 30 Arab Bank Australia Ltd v Sayde Developments Pty Ltd (2016) 93 NSWLR 231; [2016] NSWCA 328 Brehm v Wright [2007] NSWSC 1101 Butler v Fairclough (1917) 23 CLR 78; [1917] HCA 9 Irvine v Irvine [2008] NSWSC 592 Kearney v Grow Choice Pty Ltd [2023] NSWCA 325 Labracon Pty Ltd v Cuturich & Anor [2013] NSWSC 97; 17 BPR 32,497 Legione v Hateley (1983) 152 CLR 406; 57 ALJR 292; 46 ALR 1; (1983) NSW ConvR 55-123 Player & Ors v Isenberg & Ors [2002] NSWCA 186 Ryledar Pty Ltd v Euphoric Pty Ltd (2007) 69 NSWLR 603; [2007] NSWCA 65 Silvestro v S R Factors Pty Ltd [2010] NSWCA 74 SR Factors Pty Ltd v Silvestro District Court 2358/07, 8 May 2009 Category: Principal judgment Parties: Eun Ju Park (Plaintiff) Chong Eun Yi as executor of the late Young Ja Yi (Defendant) Representation: Counsel: Mr L Ellison SC (Plaintiff) Ms N Bailey (Defendant)