Net Parts International Pty Ltd & Ors v Kenoss Pty Ltd & Ors [2008] NSWCA 324

New South Wales Court of Appeal

CITATION: Net Parts International Pty Ltd & Ors v Kenoss Pty Ltd & Ors [2008] NSWCA 324

HEARING DATE(S): 30 October 2008

JUDGMENT DATE: 4 December 2008

JUDGMENT OF: Bell JA at 1; Macfarlan JA at 2; Handley AJA at 44

DECISION: Appeal dismissed with costs.

CATCHWORDS: CONTRACTS - non-completion of share sale agreement - theoretical bases of anticipatory breach principle - whether termination by acceptance of anticipatory breach requires assent of all parties - whether termination for failure of purchasers to complete

CATEGORY: Principal judgment

Bradley v Newsom [1919] AC 16 Carringville Pty Limited v The Gatto Group Pty Limited [2003] NSWSC (2003) 11 BPR 21,069 Farah Constructions Pty Limited v Say-Dee Pty Limited [2007] HCA 22; (2007) 230 CLR 89 CASES CITED: Foran v Wight [1989] HCA 51; (1989) 168 CLR 385 Jenkins v Smyth [1973] VR 441 Koompahtoo Local Aboriginal Land Council v Sanpine Pty Ltd [2007] HCA 61; (2007) 233 CLR 115 Lion White Pty Ltd v Rogers [1918] HCA 71; (1918) 25 CLR 533

TEXTS CITED: Carter, Peden and Tolhurst, Contract Law in Australia, 5th ed (2007) Butterworths

Net Parts International Pty Ltd (First Appellant) Jurek Ciok (Second Appellant) Radebi Pty Limited (Third Appellant) Ligon Fifty-Two Pty Limited (Fourth Appellant) Sophisticate Pty Limited as Trusteee of S & M Installation Superfund (Fifth Appellant) PARTIES: Nessfar Pty Limited as Trustee of the Rengaswamy Family Superannuation Fund (Sixth Appellant) Wongalee Nominees Pty Limited as Trustee of the Corney Family Superannuation Fund (Seventh Appellant) Arcorp Holdings Pty Limited as Trustee of Arcorp Superannuation Fund (Eighth Appellant) Brian Barkby (Ninth Appellant) Kenoss Pty Ltd (First Respondent) Santown Pty Limited (Second Respondent) Mark Luchetti and Greg Huxley T/As Huxley and Partners Real Estate (Third Respondent)