Burns & Ors v AMP Finance Ltd [2004] NSWCA 469

New South Wales Court of Appeal

CITATION : Burns & Ors v AMP Finance Ltd [2004] NSWCA 469 revised - 15/12/2004 HEARING DATE(S) : 7 December 2004 JUDGMENT DATE : 17 December 2004

JUDGMENT OF : Giles JA at 1; Hodgson JA at 74; Burchett AJA at 82 DECISION : Appeal dismissed with costs.

CATCHWORDS : Contract - loan agreement - provision for release of two lots from security - request for release - whether in subsequent conversations lots allowed to remain as security until needed by borrower - finding of agreement to that effect - lender excused from performance - no breach of contract - whether finding correct - finding upheld - no question of principle - order that damages be tried separately - consideration of whether necessary to establish suffered some damage - under normal procedure would have been necessary - proposal for "boundary adjustment" - exchange of land over which lender held security - needed lender's endorsement of linen plan - request for endorsement - whether implied obligation that lender would act in good faith in relation to endorsement - whether breach of obligation in failing to consider whether or not to endorse - assuming obligation, breach not established - again no question of principle. D Coulton v Holcombe (1986) 162 CLR 1; ICT Pty Ltd v Sea Containers Ltd (1994) 39 NSWLR 640; CASES CITED : National Engineering Pty Ltd v Chilco Enterprises Pty Ltd [2001] NSWCA 291; Sellars v Adelaide Petroleum NL (1992-4) 179 CLR 332; Triden Properties Ltd v Capita Financial Group Ltd (Unreported, Court of Appeal, 26 November 1993); Vodafone Pacific Ltd v Mobile Innovations Ltd [2004] NSWCA 15. John Burns - First Appellant PARTIES : Dolroy Pty Ltd - Second Appellant O'Malleys Aquariums Pty Ltd - Third Appellant FILE NUMBER(S) : CA 40291/04 COUNSEL : J W Stevenson SC & E C Muston - Appellants S White SC & J White - Respondent SOLICITORS : Foleys - Appellants Kemp Strang - Respondent