Saeed v Capital Securities Australia Pty Ltd [2020] NSWSC 223

Supreme Court New South Wales

Medium Neutral Citation: Saeed v Capital Securities Australia Pty Ltd [2020] NSWSC 223 Hearing dates: 4 March 2020 Date of orders: 13 March 2020 Decision date: 13 March 2020 Jurisdiction: Common Law Before: Davies J Decision: 1. Amended Summons dismissed. 2. The plaintiff is to pay the defendant's costs on an indemnity basis. Catchwords: CONTRACTS — formation – agreement – intention to make concluded bargain – indicative letter of offer of loan – requirement to pay fees whether or not loan made – where mortgage signed but loan did not proceed – whether indicative offer bound borrower to pay fees – whether indicative offer superseded by mortgage

WAIVER – where fees payable on one of two occasions at option of debtor – where no demand made by creditor before first occasion – whether creditor waived obligation to pay Legislation Cited: Civil Procedure Act 2005 (NSW) s 98 Local Court Act 2007 (NSW) s 39 Cases Cited: Agricultural and Rural Finance Pty Ltd v Gardiner and Another (2008) 238 CLR 570; [2008] HCA 57 Kyabram Property Investments Pty Limited & Anor. v Murray & Anor. [2005] NSWCA 87 Private Mortgages Australia Pty Limited ACN 600 628 813 as trustee for the PMA Trust v Stever [2019] NSWSC 462 Texts Cited: Nil Category: Principal judgment Parties: Mohammad Imran Saeed v (First Plaintiff) S & S Taxi Management Pty Ltd (Second Plaintiff) Capital Securities Australia Pty Ltd (Defendant) Representation: Counsel: Q Nguyen (Plaintiffs) D Edney (Defendant)