Smith v Wikramanayake [2007] NSWSC 136

Smith v Wikramanayake [2007] NSWSC 136

The plaintiffs failed to prove, to the reasonable satisfaction of the Court, that any oral agreement was made entitling Messrs Smith and James each to a one-third equity share in the unit trust and company. The evidence supported only a profit-sharing agreement upon sale, not an equity arrangement. In addition, Plus 55 failed to establish a contract of loan for sums expended for the Company. The Company was entitled to judgment on its cross-claims for unpaid bond moneys and rent, save for certain deductions as calculated.

Jurisdiction
Australia
Judgment Date
28 February 2007
Procedural Posture
Contract Dispute (equity Division) / Judgment After Final Hearing
Outcome
Plaintiffs' claims dismissed; judgment for third cross-claimant on cross-claims
Legal Topics
['oral Contract' 'standard of Proof' 'aged Care Facility Management' 'equitable Set Off' 'lease Agreement' 'cross Claim for Bond Moneys' 'cross Claim for Rent']
['contract Law' 'equity'] ['oral Contract' 'standard of Proof' 'aged Care Facility Management' 'equitable Set Off' 'lease Agreement' 'cross Claim for Bond Moneys' 'cross Claim for Rent']

Case Brief

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Procedural Posture

Contract Dispute (equity Division) / Judgment After Final Hearing

Legal Issues

  1. 1 ['Whether there was an enforceable oral agreement for equity in the facility for plaintiffs' "Whether Plus 55's expenditure constituted repayable loan moneys" 'Whether Plus 55 was obliged to account for bond moneys to Wagga Road Properties Pty Limited' 'Whether rent was owed by Plus 55']

Ratio Decidendi

The plaintiffs failed to prove, to the reasonable satisfaction of the Court, that any oral agreement was made entitling Messrs Smith and James each to a one-third equity share in the unit trust and company. The evidence supported only a profit-sharing agreement upon sale, not an equity arrangement. In addition, Plus 55 failed to establish a contract of loan for sums expended for the Company. The Company was entitled to judgment on its cross-claims for unpaid bond moneys and rent, save for certain deductions as calculated.

Court Disposition

Plaintiffs' claims dismissed; judgment for third cross-claimant on cross-claims

Orders

  • ["The plaintiffs' claims are dismissed." 'Judgment for Wagga Road Properties Pty Limited (third cross-claimant) against Plus 55 Village Management (Albury) Pty Limited (third cross-defendant) for $626,833.16 (bond moneys) and $72,126.22 (unpaid rent).' "Plaintiffs to pay the defendants' costs of the proceedings...