Stokes v Greenup [2021] NSWSC 1503

Stokes v Greenup [2021] NSWSC 1503

The express terms of the deed clearly specified when interest was payable (upon receipt of specified funds) and provided for default events; as such, implication of further terms regarding time for payment or immediate payment on sale of shares was neither necessary nor permissible. The plaintiff's claim, based solely on implied terms, must fail.

Jurisdiction
Australia
Judgment Date
24 November 2021
Procedural Posture
Civil / Final Judgment at Trial
Outcome
Judgment for the defendant.
Legal Topics
['implied Terms' 'construction of Deeds' 'default Events Under Deeds']
['contract'] ['implied Terms' 'construction of Deeds' 'default Events Under Deeds']

Case Brief

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Procedural Posture

Civil / Final Judgment at Trial

Legal Issues

  1. 1 ['Whether the deed between the parties contained an implied term requiring payment of interest within a reasonable time or on immediate sale of shares/units.' 'Proper construction of the deed regarding when interest payments were due.']

Ratio Decidendi

The express terms of the deed clearly specified when interest was payable (upon receipt of specified funds) and provided for default events; as such, implication of further terms regarding time for payment or immediate payment on sale of shares was neither necessary nor permissible. The plaintiff's claim, based solely on implied terms, must fail.

Court Disposition

Judgment for the defendant.

Orders

  • ['Judgment for the defendant.' "Plaintiff to pay the defendant's costs."]