Rose v Manno Kingsway Pty Limited as trustee for the Manno Kingsway Unit Trust [2025] NSWCA 23

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Rose v Manno Kingsway Pty Limited as trustee for the Manno Kingsway Unit Trust [2025] NSWCA 23 Hearing dates: 19 February 2025 Date of orders: 27 February 2025 Decision date: 27 February 2025 Before: Bell CJ at [1]; Mitchelmore JA at [82]; Adamson JA at [83]. Decision: Appeal dismissed with costs. Catchwords: CONTRACTS – Formation – Intention to create legal relations – "Fourth category" of Masters v Cameron (1954) 91 CLR 353; [1954] HCA 72 – Whether emails exchanged prior to formal loan agreement established an intention immediately to be bound CONTRACTS – Formation – Consideration – Past consideration – Where advance made nine days prior to execution of formal loan agreement – Whether loan agreement supported by consideration – Whether earlier advance constituted past consideration in respect of the formal loan agreement ESTOPPEL – Conventional estoppel – Where purported concession made in cross-examination – Where purported concession conflicted with contemporaneous documents – Whether purported concession provided a basis for a conventional estoppel claim Cases Cited: Australian Broadcasting Corporation v XIVth Commonwealth Games Ltd (1988) 18 NSWLR 540 Amalgamated Investment & Property Co Ltd v Texas Commercial International Bank Ltd (in liq) [1982] QB 84; [1981] WLR 565 Australian Co-operative Foods Ltd v Norco Co-operative Ltd (1999) 46 NSWLR 267; [1999] NSWSC 274 Barrier Wharfs Ltd v W Scott Fell & Co Ltd (1908) 5 CLR 647; [1908] HCA 88 Bluebird Investments Pty Ltd v Graf (1994) 13 ACSR 271 Brambles Holdings Ltd v Bathurst City Council (2001) 53 NSWLR 153; [2001] NSWCA 61 Classic Maritime Inc v Lion Diversified Holdings Berhad [2010] 1 Lloyd's Rep 59; [2009] EWHC 1142 (Comm) Equus Corp Pty Ltd v Glengallan Investments Pty Ltd [2006] QCA 194 Ermogenous v Greek Orthodox Community of SA Inc (2002) 209 CLR 95; [2002] HCA 8 Foran v Wight (1989) 168 CLR 385; [1989] HCA 51 Forbes Engineering (Asia) Pte Limited v Forbes (No 4) [2009] FCA 675 Gay Choon Ing v Loh Sze Ti Terence Peter [2009] 2 SLR(R) 332 Grundt v Great Boulder Pty Gold Mines Ltd (1937) 59 CLR 641; [1937] HCA 58 Howard Smith & Co Ltd v Varawa (1907) 5 CLR 68; [1907] HCA 38 Hunt v Optima (Cambridge) Ltd [2014] EWCA Civ 714 John Pfeiffer Pty Ltd v Rogerson (2000) 203 CLR 503; [2000] HCA 36 Johnson Matthey Ltd v A C Rochester Overseas Corporation (1990) 23 NSWLR 190 Kennedy v Broun (1863) 13 CB (NS) 677; 143 ER 268 Kestell v Davey (No 3) [2023] WASC 289 Kramer v Stone [2024] HCA 48; (2024) 99 ALJR 126 Lampleigh v Braithwaite (1615) Hob 105; 80 ER 255 Lange v Australian Broadcasting Corporation (1997) 189 CLR 520; [1997] HCA 25 Legione v Hateley (1983) 152 CLR 406; [1983] HCA 11 Lictor Anstalt v MIR Steel UK Ltd [2014] EWHC 3316 (Ch) Lipohar v The Queen (1999) 200 CLR 485; [1999] HCA 65 Ma Hongjin v SCP Holdings Pte Ltd [2019] SGHC 277 Marsden v Barclays Bank plc [2016] 2 Lloyd's Rep 420; [2016] EWHC 1601 (QB) Masters v Cameron (1954) 91 CLR 353; [1954] HCA 72 Moratic Pty Ltd v Gordon [2007] NSWSC 5 Pao On v Lau You Long [1980] AC 614 Re Casey's Patents; Stewart v Casey [1892] 1 Ch 104 Re Douglas; Ex parte Starkey (1987) 15 FCR 475; (1987) 75 ALR 97 Retirement Services Australia (RSA) Pty Ltd v 3143 Victoria St Doncaster Pty Ltd (2012) 37 VR 486; [2012] VSCA 134 Ryledar Pty Ltd v Euphoric Pty Ltd (2007) 69 NSWLR 603; [2007] NSWCA 65 SAS Realty Developments v Kerr [2013] NSWCA 56 Taylor v Johnson (1983) 151 CLR 422; [1983] HCA 5 Thornton v Jenyns (1840) 1 M & G 166; 133 ER 291 Twenty Ninth Macorp Nominees Pty Ltd v Normal George [2017] VSC 136 Westminster City Council v Duke of Westminster [1991] 4 All ER 136 Texts Cited: E Peel, Treitel: The Law of Contract (13th ed, 2011, Street & Maxwell) H Beale, Chitty on Contracts (Vol 1, 35th ed, 2024, Street & Maxwell) JD Heydon, Heydon on Contract: The General Part (2019, Thomson Reuters) KR Handley, Estoppel by Conduct and Election (2006, Street & Maxwell) MJ Leeming, Common Law, Equity and Statute: A Complex Entangled System (2023, Federation Press) Category: Principal judgment Parties: Christopher Peter Rose (Appellant) Manno Kingsway Pty Limited ATF the Manno Kingsway Unit Trust (Respondent) Representation: Counsel: