Walker v Chanrich Properties Pty Ltd [2003] NSWSC 1064

New South Wales Supreme Court

CITATION : Walker v Chanrich Properties Pty Ltd [2003] NSWSC 1064 HEARING DATE(S) : 10 and 11 November 2003 JUDGMENT DATE : 19 November 2003 JURISDICTION: Equity Division JUDGMENT OF : Young CJ in Eq DECISION : Plaintiffs' suit dismissed with costs.

CATCHWORDS : CONTRACT [135]- Rescission- Contract to buy off the plan- Special conditions- Vendors to "take all reasonable steps to procure approval for the registration of the Plan, Instruments or Community Management Statement"- What is "reasonable"- What would a reasonable developer do?- Both parties had right to rescind under special condition 30- Vendors exercised the right of rescission- Whether rescission justified- Plaintiffs seeking specific performance of contract. CONVEYANCING [2]- Contract subject to registration of plan within certain period- Condition not fulfilled- Whether vendors could rescind. LEGISLATION CITED : Sydney Water Act 1994, s 73 Hawes v Cuzeno Pty Ltd (1999) 10 BPR 18,011 Hunyor v Tilelli (1997) 8 BPR 15,629 CASES CITED : Mitchell v Pattern Holdings Pty Ltd (2002) 11 BPR 20,241 Pulmor Pty Ltd v Handley (1996) 41 NSWLR 30 Suttor v Gundowda Pty Ltd (1950) 81 CLR 418 Wardy v Hardy (2002) 11 BPR 20,227 PARTIES : Andrew Peter Walker and Aurora Walker (P) Chanrich Properties Pty Ltd and Hi-Return Investments Pty Ltd (D) FILE NUMBER(S) : SC 1908/03 COUNSEL : J B Whittle SC and Y Holt (P) J E Richards (D) SOLICITORS : C G Taylor & Son (P) Storey & Gough (D)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION