LSR Developments Pty Limited v K & M Developments Pty Limited [2005] NSWSC 862

LSR Developments Pty Limited v K & M Developments Pty Limited [2005] NSWSC 862

The purchaser did not show a strong or serious case that there was an extant contract, given the disputed oral extensions, the contemporaneous documents, the likely validity of the March 2005 termination, and insufficient evidence of finance or readiness to complete. The balance of convenience favoured refusing injunctive relief, particularly where the vendor varied its open offer to give the purchaser until 19 August 2005 to complete, which the Court treated as a final opportunity to acquire the property rather than a basis for preserving the injunction.

Jurisdiction
Australia
Judgment Date
29 July 2005
Procedural Posture
Interlocutory Injunction in Vendor Purchaser Land Sale Proceedings / Amended Notice of Motion for Interlocutory Relief
Outcome
Injunctive relief refused; amended notice of motion dismissed insofar as it sought the injunction; plaintiff ordered to pay the defendant's costs of and occasioned by the motion.
Legal Topics
['interlocutory Injunction' 'vendor and Purchaser' 'contract for Sale of Land' 'notice to Complete' 'termination of Contract' 'caveats' 'balance of Convenience' 'deposit Relief']
['equity' 'property Law' 'contract Law' 'civil Procedure'] ['interlocutory Injunction' 'vendor and Purchaser' 'contract for Sale of Land' 'notice to Complete' 'termination of Contract' 'caveats' 'balance of Convenience' 'deposit Relief']

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Procedural Posture

Interlocutory Injunction in Vendor Purchaser Land Sale Proceedings / Amended Notice of Motion for Interlocutory Relief

Legal Issues

  1. 1 ['Whether the purchaser had a sufficiently serious case or real possibility of ultimate success to justify interlocutory injunctive relief restraining the vendor from contracting to sell the land.' 'Whether the balance of convenience favoured preservation of the status quo by injunction.' "Whether the evidence supported the purchaser's asserted extensions of time to complete and the existence of an extant contract." "Whether the purchaser's financial position and conduct, including caveat lodgment, affected the discretionary assessment."]

Ratio Decidendi

The purchaser did not show a strong or serious case that there was an extant contract, given the disputed oral extensions, the contemporaneous documents, the likely validity of the March 2005 termination, and insufficient evidence of finance or readiness to complete. The balance of convenience favoured refusing injunctive relief, particularly where the vendor varied its open offer to give the purchaser until 19 August 2005 to complete, which the Court treated as a final opportunity to acquire the property rather than a basis for preserving the injunction.

Court Disposition

Injunctive relief refused; amended notice of motion dismissed insofar as it sought the injunction; plaintiff ordered to pay the defendant's costs of and occasioned by the motion.

Orders

  • ['The Court notes that K & M Developments Pty Limited, by its counsel, has given an undertaking to the Court to vary its open offer made today in court by altering so much of paragraph 2 of that offer as referred to "Friday 5 August 2005" and in its place inserting "Friday 19 August 2005".' 'I dismiss the amended...