Kylsilver Pty Ltd v One Australia Pty Ltd [2001] NSWSC 611

Kylsilver Pty Ltd v One Australia Pty Ltd [2001] NSWSC 611

As the court had ordered repayment of the deposits and denied liquidated damages against the purchaser, the indemnity did not extend to sums claimed by the plaintiff; the directors' obligation only arose for amounts due and payable by the purchaser and not paid, which was not the case as determined by the judgment.

Jurisdiction
Australia
Judgment Date
20 July 2001
Procedural Posture
Equity Proceeding / Judgment
Outcome
Judgment for the second and third defendants on the plaintiff's claim; plaintiff to pay second and third defendants' costs of the claim.
Legal Topics
['vendor and Purchaser' 'breach of Contract' 'deposit Recovery' 'statutory Power to Order Repayment' 'indemnity Liability' 'contract Interpretation']
['equity' 'conveyancing' 'guarantee and Indemnity'] ['vendor and Purchaser' 'breach of Contract' 'deposit Recovery' 'statutory Power to Order Repayment' 'indemnity Liability' 'contract Interpretation']

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Procedural Posture

Equity Proceeding / Judgment

Legal Issues

  1. 1 ['Whether the plaintiff can recover the balance of the deposit under six contracts for sale of land' 'Whether directors who gave an indemnity are liable when statutory relief is granted under s 55(2A) Conveyancing Act 1919' 'Construction and enforceability of indemnity contracts']

Ratio Decidendi

As the court had ordered repayment of the deposits and denied liquidated damages against the purchaser, the indemnity did not extend to sums claimed by the plaintiff; the directors' obligation only arose for amounts due and payable by the purchaser and not paid, which was not the case as determined by the judgment.

Court Disposition

Judgment for the second and third defendants on the plaintiff's claim; plaintiff to pay second and third defendants' costs of the claim.

Orders

  • ['Judgment for second and third defendants' "Plaintiff to pay second and third defendants' costs"]