Sydney Developments Pty Limited v Perry Properties Pty Limited [2016] NSWSC 515

Supreme Court New South Wales

Medium Neutral Citation: Sydney Developments Pty Limited v Perry Properties Pty Limited [2016] NSWSC 515 Hearing dates: 6 April 2016 Date of orders: 28 April 2016 Decision date: 28 April 2016 Jurisdiction: Equity Before: Darke J Decision: Plaintiff purchaser not entitled to damages or to order for repayment of deposit. Purchaser's caveat ordered to be withdrawn. Catchwords: REAL PROPERTY – contracts for the sale of land – deposits – purchaser required to make two payments of ten per cent of purchase price as deposits – essential condition – purchaser fails to make second payment – vendor terminates contract and forfeits the first payment – whether condition a penalty – whether termination a wrongful repudiation – whether deposit should be repaid to purchaser Legislation Cited: Conveyancing Act 1919 (NSW), s 55(2A) Cases Cited: Andrews v Australia and New Zealand Banking Group Limited [2012] HCA 30; (2012) 247 CLR 205 Brien v Dwyer (1978) 141 CLR 378 Commissioner of Taxation v Reliance Carpet Co Pty Limited [2008] HCA 22; (2008) 236 CLR 342 Foran v Wight [1989] HCA 51; (1989) 168 CLR 385 Havyn Pty Limited v Webster [2005] NSWCA 182 Hawkins v Butcher [2002] NSWCA 237; (2002) 55 NSWLR 558 Iannello v Sharpe [2007] NSWSC 61; (2007) 69 NSWLR 452 Legione v Hateley (1983) 152 CLR 406 Lucas & Tait (Investments) Pty Limited v Victoria Securities Limited [1973] 2 NSWLR 268 Luu v Sovereign Developments Pty Limited [2006] NSWCA 40 Manufacturers House Pty Limited v Ashington No 147 Pty Limited [2005] NSWSC 767 Paciocco v Australia and New Zealand Banking Group Limited [2015] FCAFC 50 Rana v Dalla Costa [2014] NSWSC 1113 Romanos v Pentagold Investments Pty Limited [2003] HCA 58; (2003) 217 CLR 367 Workers Trust and Merchant Bank Limited v Dojap Investments Limited [1993] AC 573 Category: Principal judgment Parties: Sydney Developments Pty Limited (Plaintiff) Perry Properties Pty Limited (Defendant) Representation: Counsel: Mr D A Conti (solicitor) (Plaintiff) Mr R I Goodridge (Defendant)