Wood, Brian Leslie & Anor v Wood, Neville Wesley & Ors [1997] FCA 957
In proceedings founded on s 82 of the Trade Practices Act 1974 (Cth), liability under the guarantee and indemnity did not arise until the Bank made demand upon the applicants as guarantors; the cause of action accrued at that point, not upon execution of the guarantee or mortgage, and thus the claim was not statute barred.
- Jurisdiction
- Australia
- Judgment Date
- 17 September 1997
- Procedural Posture
- Motion / Ruling on Notice of Motion (limitation Defence)
- Outcome
- Notice of Motion dismissed; applicants awarded costs of the motion.
- Legal Topics
- ['limitation of Actions' 'misleading or Deceptive Conduct' 'guarantees and Indemnities']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Motion / Ruling on Notice of Motion (limitation Defence)
Legal Issues
- 1 ["Whether the applicants' cause of action is statute barred by reason of s 82(2) of the Trade Practices Act 1974 (Cth)" 'When the cause of action for misleading or deceptive conduct pursuant to a guarantee and indemnity accrues under s 82(2)']
Ratio Decidendi
In proceedings founded on s 82 of the Trade Practices Act 1974 (Cth), liability under the guarantee and indemnity did not arise until the Bank made demand upon the applicants as guarantors; the cause of action accrued at that point, not upon execution of the guarantee or mortgage, and thus the claim was not statute barred.
Court Disposition
Notice of Motion dismissed; applicants awarded costs of the motion.
Orders
- ['The Notice of Motion be dismissed.' "The respondents pay the applicants' costs of the Notice of Motion."]
Full Case Text
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