NSW Caselaw
New South Wales Supreme Court
CITATION : Liberty Grove (Concord) Pty Ltd v Mirvac Projects Pty Ltd [2008] NSWSC 113
HEARING DATE(S) : 04/02/08, 05/02/08, 06/02/08, 07/02/08, 11/02/08
JUDGMENT DATE : 21 February 2008
JURISDICTION : Commercial List
JUDGMENT OF : Einstein J
DECISION : Contract construed. Parties directed to bring in short minutes of order to comprehend the findings
CATCHWORDS : Contract - Construction - Consideration of principles - Admissibility of evidence of negotiations anterior to entry into of written contract - Dispute between developers as to proper construction of agreement treating with profit share arrangement - Complex of close issues of construction requiring consideration of what were and were not 'accounting practices' and/or 'the normal accounting practices of the defendant' - Whether or not the concept of an internal rate of return and the application of the formula to derive this rate were properly described as 'an accounting practice' or 'accounting practices' - Whether contract dictated the manner of calculation of an internal rate of return - Whether the discount rate to be compounded on a monthly basis or an annual basis - Consideration of discounting practices - Variation of contract
CATEGORY : Principal judgment
Antaios Compania Naviera SA v Salen Rederierna AB [1985] AC 191 Ashington Piggeries Ltd v Christopher Hill Ltd [1972] AC 441 Australian Broadcasting Commission v Australasian Performing Right Association Ltd (1973) 129 CLR 99 Australian Broadcasting Corporation v XIVth Commonwealth Games Ltd (1988) 18 NSWLR 540 Codelfa Construction Pty Ltd v State Rail Authority of New South Wales (1982) 149 CLR 337 Gissing v Gissing [1971] AC 886 Haynes v Hirst (1927) 27 SR (NSW) 480. Hide and Skin Trading v Oceanic Meat Traders Ltd (1990) 20 NSWLR 310 International Fina Services AG v Katrina Shipping Ltd ("The Fina Samco") [1995] 2 Lloyd's Rep 344 Investors Compensation Scheme Ltd v West Bromwich Building Society [1998] 1 WLR 896 Kooee Communications Pty Ltd v Primus Telecommunications Pty Ltd [2008] NSWCA 5 CASES CITED : Lohar Corp Pty Ltd v Dibu Pty Ltd (1976) 1 BPR 9177 L Schuler AG v Wickman Machine Tool Sales Ltd [1974] AC 235 Maggbury Pty Ltd v Hafele Australia Pty Ltd (2001) 210 CLR 181 McFadden v Snow [1952] 69 WN (NSW) 8 Optus Vision Pty Ltd v Australian Rugby Football League Ltd [2004] NSWCA 61 Peppers Hotel Management Pty Ltd v Hotel Capital Partners Ltd [2004] NSWCA 114 Pitts v Adney [1961] NSWR 535 Prenn v Simmonds [1971] 1 WLR 1381 Reardon Smith Line Ltd v Yngvar Hansen-Tangen [1976] 1 WLR 989 Royal Botanic Gardens and Domain Trust v South Sydney City Council (2002) 186 ALR 289 Toll (FGCT) Pty Limited v Alphapharm Pty Limited (2004) 219 CLR 165 Upper Hunter County District Council v Australian Chilling and Freezing Co Ltd (1968) 118 CLR 429 Vodafone Pacific Ltd v Mobile Innovations Ltd [2004] NSWCA 15
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