NSW Caselaw
Reported Decision : (2007) NSW Conv R 56-193
New South Wales Supreme Court
CITATION : Source & Resources Pty Ltd v Porada & Anor [2007] NSWSC 883
HEARING DATE(S) : 18/07/07
JUDGMENT DATE : 13 August 2007
JUDGMENT OF : Gzell J
DECISION : Declaration that the plaintiff had validly rescinded the contract. No order as to damages under the Real Property Act 1900, s 74P(1)(c).
CATCHWORDS : CONTRACTS - General Contractual Principles - Waiver - Conditional contract for sale of land to defendants with rights to rescind if condition not met by specified date - Plaintiff purported to rescind after time had expired - Whether by continuing appeal against refusal of local council to approve plan of subdivision of the land the plaintiff had elected to keep the contract on foot - CONVEYANCING - Land Title under the Torrens System - Caveats against Dealings - Caveat lodged with honest belief, based upon reasonable grounds, that caveators had a caveatable interest - No evidence that opinion had changed - Whether plaintiff entitled to damages under the Real Property Act 1900, s 74P(1)(c) because of alleged unreasonable stand in commercial negotiations for withdrawal of the caveat to allow refinancing
LEGISLATION CITED : Real Property Act 1900 Real Property Amendment Act 1996
Craine v Colonial Mutual Fire Insurance Co Ltd (1920) 28 CLR 305 United Australia Ld v Barclay's Bank Ld [1941] AC 1 Sargent v ASL Developments Ltd (1974) 131 CLR 634 Gilbert v Healey Investment Pty Ltd (1975) 1 NSWLR 650 Treloar Nominees Pty Ltd v Buttrey (1977) 1 BPR 97077 Shield Properties & Investments Ltd v Anglo-Overseas Transport Co Ltd (1985) 273 Estates Gazette 69 CASES CITED : Elspan v Eurocopta [1999] NSWSC 555 Bedford Properties Pty Ltd v Surgo Pty Ltd (1981) 1 NSWLR 106 Beca Developments Pty Ltd v Idameneo (No 92) Pty Ltd (1990) 21 NSWLR 459 Dykstra v Dykstra (1991) 22 NSWLR 556 Gustin v Taajamba Pty Ltd (1994) 6 BPR 97468 Commonwealth Bank of Australia v Baranyay [1993] 1 VR 589 Edmonds v Donovan (2005) 12 VR 513
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