One Spencer St P/L v Maryland International P/L [2005] NSWSC 275

New South Wales Supreme Court

CITATION : One Spencer St P/L v Maryland International P/L [2005] NSWSC 275

HEARING DATE(S) : 28/04/05, 29/04/05

JUDGMENT DATE : 26 May 2005

JUDGMENT OF : White J

DECISION : Plaintiff's counsel to bring in short minutes in accordance with reasons.

CATCHWORDS : CONTRACTS - Sale of Land - Construction - Termination - s 55(2A) Conveyancing Act - Completion subject to council approval of development plans - Purchaser entitled to rescind if conditions of approval not reasonably acceptable to it subject to any dispute being referred to arbitration - Whether purchaser entitled to rescind - Whether purchaser had elected to affirm the contract - Whether parties had abandoned arbitration - Purchaser's claim for repayment of deposit - Deposit as an earnest for the purchaser's performance of contract - Held that purchaser repudiated contract and vendor is entitled to keep deposit.

LEGISLATION CITED : Conveyancing Act 1919 (NSW)

DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1978) 138 CLR 423 Fitzgerald v Masters (1956) 95 CLR 420 Sasson & Partners Pty Ltd v Fehevu Pty Ltd [1999] NSWCA 400 LMI Australasia Pty Ltd v Baulderstone Hornibrook Pty Ltd [2003] NSWCA 74 Brambles Holdings Ltd v Bathurst City Council (2001) 53 NSWLR 153 L Schuler AG v Wickman Machine Tool Sales Ltd [1974] AC 235 CASES CITED : Sargent v ASL Developments Ltd (1974) 131 CLR 634 Romanos v Pentagold Investments Pty Ltd (2003) 77 ALJR 1882 Stern v McArthur (1988) 165 CLR 489 Tanwar Enterprises Pty Ltd v Cauchi (2003) 77 ALJR 1853 Lucas & Tait (Investments) Pty Ltd v Victoria Securities Ltd [1973] 2 NSWLR 268 Wilson v Kingsgate Mining Industries Pty Ltd [1973] 2 NSWLR 713 Terry v Permanent Trustee Australia Ltd (1995) 6 BPR 14,091