Morrow v Tucker [2006] NSWSC 750
The finance clause did not require the purchaser to obtain finance exclusively from Mr Tucker; it was for the purchaser's benefit and allowed her to proceed with finance from another lender. The vendor's election to serve a notice to complete affirmed the contract, thereby waiving the right of rescission, and the termination by the vendor was invalid.
- Jurisdiction
- Australia
- Judgment Date
- 26 July 2006
- Procedural Posture
- Contract for Sale – Equity Division / Judgment on Application for Specific Performance
- Outcome
- Order for specific performance made.
- Legal Topics
- ['finance Clause' 'specific Performance' 'right of Rescission' 'construction of Contract']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Contract for Sale – Equity Division / Judgment on Application for Specific Performance
Legal Issues
- 1 ['Whether the finance clause required the purchaser to obtain finance only from the specified lender (Mr Tucker)' 'Whether the vendor had made an irrevocable election to affirm the contract by serving a notice to complete']
Ratio Decidendi
The finance clause did not require the purchaser to obtain finance exclusively from Mr Tucker; it was for the purchaser's benefit and allowed her to proceed with finance from another lender. The vendor's election to serve a notice to complete affirmed the contract, thereby waiving the right of rescission, and the termination by the vendor was invalid.
Court Disposition
Order for specific performance made.
Orders
- ['Declaration and order for specific performance of the contract as sought in paragraphs 1 and 2 of the Statement of Claim.']
Full Case Text
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