Perpetual Trustee Company Ltd v Meriton Property Management Pty Ltd [2005] NSWSC 623

Perpetual Trustee Company Ltd v Meriton Property Management Pty Ltd [2005] NSWSC 623

The plaintiff was unwilling to complete from 12 July 2004 until 13 January 2005 because it insisted on completion with easements on title to which the defendant validly objected, and was thereafter unable to complete until 11 February 2005 while it arranged removal of easements. The defendant had not abandoned the four additional objections and was not estopped from relying on them; those objections were valid. Accordingly the defendant was willing and able to complete throughout the relevant period, there were non-interest days under clause 38 relieving the defendant from paying interest to the plaintiff, and there were no non-interest days under clause 39 relieving the plaintiff from...

Jurisdiction
Australia
Judgment Date
29 June 2005
Procedural Posture
Contract Dispute Concerning Interest Clauses in a Contract for Sale of Land / Amended Summons Seeking Repayment of Interest Paid on Completion
Outcome
Amended Summons dismissed.
Legal Topics
['construction of Contract for Sale of Land' 'interest Payable on Delayed Completion' 'ready, Willing and Able to Complete' 'validity of Objections to Title and Easements' 'res Judicata and Issue Estoppel']
['contract Law' 'property Law'] ['construction of Contract for Sale of Land' 'interest Payable on Delayed Completion' 'ready, Willing and Able to Complete' 'validity of Objections to Title and Easements' 'res Judicata and Issue Estoppel']

Case Brief

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Procedural Posture

Contract Dispute Concerning Interest Clauses in a Contract for Sale of Land / Amended Summons Seeking Repayment of Interest Paid on Completion

Legal Issues

  1. 1 ['Whether the plaintiff was entitled to repayment of $971,133.84 paid to the defendant as interest on completion for the period 12 July 2004 to 11 February 2005.' 'Whether, under clause 38, the plaintiff was unable or unwilling to complete while the defendant was able and willing to complete, so that the defendant did not have to pay interest to the plaintiff.' 'Whether, under clause 39, there were non-interest days because the defendant was unable or unwilling to complete while the plaintiff was able and willing to complete.' 'Whether the defendant was precluded by res judicata, issue estoppel or Anshun principles from relying on four objections not determined in the earlier judgment.' 'Whether the additional objections concerning easement D, vacant possession, easement Y and deletion of easement Z were valid objections.']

Ratio Decidendi

The plaintiff was unwilling to complete from 12 July 2004 until 13 January 2005 because it insisted on completion with easements on title to which the defendant validly objected, and was thereafter unable to complete until 11 February 2005 while it arranged removal of easements. The defendant had not abandoned the four additional objections and was not estopped from relying on them; those objections were valid. Accordingly the defendant was willing and able to complete throughout the relevant period, there were non-interest days under clause 38 relieving the defendant from paying interest to the plaintiff, and there were no non-interest days under clause 39 relieving the plaintiff from...

Court Disposition

Amended Summons dismissed.

Orders

  • ['The Amended Summons is dismissed.' 'If the parties are unable to agree on a costs order they may re-list the matter for argument on a date to be fixed by arrangement with the Associate but no later than 15 July 2005.']