Bull v Cooldawinda Pty Ltd [2024] NSWSC 1011

Supreme Court New South Wales

Medium Neutral Citation: Bull v Cooldawinda Pty Ltd [2024] NSWSC 1011 Hearing dates: 29 July, 1 August 2024 Date of orders: 14 August 2024 Decision date: 14 August 2024 Jurisdiction: Equity - Expedition List Before: Rees J Decision: Declarations made as sought by the plaintiff; cross claim dismissed with costs. Catchwords: CONTRACT FOR SALE OF LAND – contracts signed but not exchanged – guarantor proffered by purchaser unacceptable – vendor receives higher offer from third party – whether binding contract – whether oral contract – principles at [81]-[86] – parties did not contemplate binding contract prior to exchange – Masters v Cameron inapplicable where parties had not reached finality on all terms, being acceptable guarantor, at [94]. PART PERFORMANCE – principles at [97]-[98] –incorporating special purpose vehicles to buy property not unequivocally referable to alleged agreement – paying deposit without more, insufficient at [99]. PROPRIETARY ESTOPPEL – principles at [103]-[107] – executor selling the family farm – son keen to buy farm and given opportunity to do so – son sells own farm and cattle in effort to do so – unable to raise remaining finance – farm placed on market – executor remains amenable to selling farm to son if can match highest offer – son unable to get loan – son enlists investor, who proposes to buy farm through corporation as trustee for unit trust – son has no role in corporation – son and investor have half-share in units – executor unaware of this arrangement – whether assurances made by executor to son – whether corporation can or did rely on assurances to son – whether detriment – elements not established. Legislation Cited: Conveyancing Act 1919 (NSW) ss 23C(1), 54A Real Property Act 1900 (NSW) s 74J Trustee Act 1925 (NSW) s 71 Cases Cited: Allen v Carbone [1975] HCA 14; (1975) 132 CLR 528 Baulkham Hills Private Hospital Pty Ltd v GR Securities Pty Ltd (1986) 40 NSWLR 622 Bicknell v Bell (1897) 3 ALR 162 Brambles Holdings Ltd v Bathurst City Council (2001) 53 NSWLR 153; [2001] NSWCA 61 Bruen v Smith (1908) 30 ALT 149 Ciavarella v Polimeni [2008] NSWSC 234 Cramaso LLP v Ogilvie-Grant [2014] 2 All ER 270 Delaforce v Simpson-Cook [2010] NSWCA 84 Futuretronics International Pty Ltd v Gadzhis [1992] 2 VR 217 Gillett v Holt [2001] Ch 210 GR Securities Pty Ltd v Baulkham Hills Private Hospital Pty Ltd (1986) 40 NSWLR 631 Jennings v Rice [2002] EWCA Civ 159 Kazacos v Shuangling International Development Pty Ltd (2016) 18 BPR 36,353; [2016] NSWSC 1504 Khan v Khan (2004) 62 NSWLR 229 Lezabar Pty Ltd v Hogan (1984) 4 BPR 9498 Luong Dinh Luu v Sovereign Developments Pty Ltd (2006) 12 BPR 23,629; [2006] NSWCA 40 Masters v Cameron (1954) 91 CLR 353 Pavlovic v Universal Music Australia Pty Ltd [2015] NSWCA 313 Phung v Phung [2019] NSWSC 117 Pipikos v Trayans (2018) 265 CLR 522 Regent v Millett (1976) 133 CLR 679 RT & YE Falls Investments Pty Ltd v New South Wales [2001] NSWSC 1027 Sidhu v Van Dyke (2014) 251 CLR 505 Sindel v Georgiou (1984) 154 CLR 661 Ta Lee Investment Pty Ltd v Antonios (2019) 19 BPR 39153; [2019] NSWCA 24 Wantagong Farms Pty Ltd as Trustee for the Bulle Family Trust v Bulle [2015] NSWSC 1603 Category: Principal judgment Parties: Steven Bull as executor for the Estate of Barry Robb (Plaintiff) Cooldawinda Pty Ltd as Trustee for the Cooldawinda Unit Trust (Cooldawinda) (Defendant) Representation: Counsel: L Sewell (Plaintiff) T Messer / T Maybury (Defendant)