NSW Caselaw
New South Wales Supreme Court
CITATION : Greenwood v Kingston Properties Pty Ltd [2007] NSWSC 1108
HEARING DATE(S) : 27/8/07
JUDGMENT DATE : 9 October 2007
JURISDICTION : Equity Division
JUDGMENT OF : Young CJ in Eq
DECISION : Plaintiffs entitled to final instalment of purchase price of $1 million plus interest as agreed in the contract.
CATCHWORDS : CONVEYANCING [117]- Position of parties after completion- Other matters- Defendant buys property for $2.6 million- $1.6 million payable on completion- Balance payable when purchaser transfers or assigns interest in property- Defendant sets up trust and transfers its interest in subject property to new trustee before completion- Vendors later signed caveat naming new trustee as registered proprietor- Not an acquiescence in transfer- Outstanding purchase monies payable. ESTOPPEL [29]- Estoppel by convention- Not made out as no evidence of common assumption.
LEGISLATION CITED : Partnership Act 1892
CTM Nominees Pty Ltd v Galba Pty Ltd (1982) 2 BPR 9588 Davis v Williams (2003) 11 BPR 21,313 DKLR Holding Co (No 2) Pty Ltd v Commissioner of Stamp Duties (NSW) (1982) 149 CLR 431 CASES CITED : Great Western Railway v Bristol Corporation (1918) 87 LJ Ch 414 Hallifax Mortgage Services Ltd v Stepski [1996] Ch 207 Re South African Supply and Cold Storage Co [1904] 2 Ch 268 Re Transphere Pty Ltd (1984) 5 NSWLR 309 Waterman v Gerling Australia Insurance Co Pty Ltd (2005) 65 NSWLR 300
John George Greenwood (P1) PARTIES : Joy Greenwood (P2) Kingston Properties Pty Limited (D)
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