Raptis & Ors v Wija Investments Development Pty Ltd [2007] NSWSC 924

New South Wales Supreme Court

CITATION : Raptis & Ors v Wija Investments Development Pty Ltd [2007] NSWSC 924

HEARING DATE(S) : 09/08/07

JUDGMENT DATE : 28 August 2007

JUDGMENT OF : Gzell J

DECISION : Declaration that plaintiffs have a caveatable interest in the land being a present equitable charge to secure their entitlements under the deed.

CATCHWORDS : CONTRACTS - General Contractual Principles - Construction and Interpretation of Contracts - Whether consideration for sale of shares included a choice of two units in a prospective site development in addition to the cash consideration in the share sale agreement - Whether a deed containing the entitlement to the two units was executed on behalf of the defendant - Whether the deed was void for uncertainty - Whether the obligation only arose if the defendant chose to develop the site - Whether the entitlement to lodge a caveat only arose when the defendant was in default - Whether the defendant was in default by contracting to sell the land undeveloped

LEGISLATION CITED : Real Property Act 1900 Corporations Act 2001 (Cth)

Biotechnology Australia Pty Ltd v Pace (1988) 15 NSWLR 130 Stocks & Holdings (Constructors) Pty Ltd v Arrowsmith (1964) 112 CLR 646 Codelfa Construction Pty Ltd v State Rail Authority of NSW (1981-1982) 149 CLR 337 CASES CITED : BP Refinery (Westernport) Pty Ltd v Shire of Hastings (1977) 180 CLR 266 Troncone v Aliperti (1994) 6 BPR 97455 Jessica Holdings Pty Ltd v Anglican Property Trust (1992) 27 NSWLR 140 Chan v Cresdon Pty Ltd (1989) 168 CLR 242

Betty Raptis - First Plaintiff PARTIES : Dimitra Raptis - Second Plaintiff B & D Eastern Pty Ltd - Third Defendant Wija Investments Development Pty Ltd - First Defendant