NSW Caselaw
New South Wales Supreme Court
CITATION : Matouk v The Entrance Seabreeze Pty Ltd [2010] NSWSC 649
HEARING DATE(S) : 9 June 2010
JUDGMENT DATE : 18 June 2010
JURISDICTION : Equity Commercial List
JUDGMENT OF : Ward J
DECISION : Declaration that guarantee under Deed of Loan enforceable by plaintiff against second defendant. Matter referred to Associate Justice for determination of amount payable under guarantee.
CATCHWORDS : DEEDS - requirements for valid execution - whether plaintiff can take benefit of deed despite not reading properly or signing document - HELD - plaintiff able to rely on deed - deed validly affirmed in a subsequent deed of variation - LOAN AND GUARANTEE - whether deed constitutes a binding agreement for guarantee supported by good consideration - HELD - deed constitutes valid contract of guarantee under which guarantee extends to repayment of principal, interest and additional moneys - guarantee not contingent on notice or demand - plaintiff able to enforce guarantee against second defendant despite availability of higher remedy against first defendant - plaintiff's inability to establish exact amount remaining due under loan does not preclude recovery - matter to be referred to Associate Justice for determination of exact amount outstanding - relief not available under Contracts Review Act 1980
Contracts Review Act 1980 (NSW) Conveyancing Act 1919 (NSW) LEGISLATION CITED : Corporations Act 2001 (Cth) Duties Act 1997 (NSW) Supreme Court Rules 1970 (NSW)
Adelaide Motors v Byrne [1965] 60 DLR 2(D1) Ankar Pty Ltd v National Westminster Finance (Aust) Ltd (1987) 162 CLR 549 Aveline v Whisson (1842) 4 Man & G 801 Bell v Banks (1841) 3 Man & G 258; 133 ER British Empire Mutual Life-Assurance Co v Browne (1852) 12 CB 723; 138 ER 1088 Cherry v Heming (1848) 154 ER 1367; 4 Exch 631 Clement v Henley (1643) 2 Roll Abr 22 Clyde Industries Ltd v Dittes (unreported, NSWSC, 5 June 1992) Commercial Bank of Australia Ltd v Colonial Finance, Mortgage, Investment and Guarantee Corp Ltd (1906) 4 CLR 57 Cromwell v Grunsden (1698) 2 Salk 462 Custom Credit Corporation Limited v Simcock (unreported, Supreme Court of WA, 13 April 1995) Edwards v Skilled Engineering Pty Ltd (unreported, NSWCA, 14 March 1989) Egbert v National Crown Bank [1918] AC 903 Hancock v Williams (1942) 42 SR (NSW) 252 Lawrie v Lees (1881) 7 App Cas 19 CASES CITED : Maby v Sheperd (1622) Cro Jac 640 Morgan v Pike (1854) 14 CBNS 473; 139 ER 195 Moschi v LEP Air Services Ltd [1973] AC 331 Owen v Homan (1851) 3 Mac & G 378; 42 ER 307 Palindrome Holdings Pty Ltd v Wass [2009] NSWSC 797 R v Goddard (1703) 3 Salk 171; 2 Bl Com (14 Edn) 306 Re Taylor (1995) 130 ALR 723 Rose v Poulton (1831) 2 B & Ad 822; 109 ER 1348 S H Lock Discounts and Credits Pty Ltd v Miles [1963] VR 656 Smith v Parsmore (1883) 4 LR (NSW) 274 Stromdale and Ball Ltd v Burden [1952] 1 Ch 223 Sunbird Plaza Pty Ltd v Maloney (1988) 166 CLR 245; 77 ALR 205 Thoroughgood's Case (1584) 2 Co Rep 9a; 76 ER 408 Union Bank of Australia Ltd v Barry (1897) 23 VLR 505 West Head v Sprosen (1861) 6 H&N 728; 158 ER 301 Wetherell v Langston (1847) 1 Exch 634; 154 ER 269
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