MAINBADER PTY LTD v PARK [1994] NSWCA 190

MAINBADER PTY LTD v PARK [1994] NSWCA 190

On the proper construction of the joint venture agreement as a whole, the purchase price of the land is included in the costs and expenses to be deducted to arrive at the residual balance for division between the parties.

Parties
Appellant: Mainbader Pty Ltd; Respondent: Park
Jurisdiction
Australia
Judgment Date
17 February 1994
Procedural Posture
Appeal / Judgment on Appeal From Equity Division
Outcome
Appeal allowed. Declaration 3 varied. Respondent to pay costs and to have a certificate under the Suitors' Fund Act.
Legal Topics
Construction and Interpretation of Contracts, Joint Venture Agreement, Costs and Expenses Provision
Contracts Construction and Interpretation of Contracts Joint Venture Agreement Costs and Expenses Provision

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Parties

Mainbader Pty Ltd

Appellant

Park

Respondent

Procedural Posture

Appeal / Judgment on Appeal From Equity Division

Legal Issues

  1. 1 Whether the purchase price of land was included in 'costs and expenses' under clause 8 of the joint venture agreement

Ratio Decidendi

On the proper construction of the joint venture agreement as a whole, the purchase price of the land is included in the costs and expenses to be deducted to arrive at the residual balance for division between the parties.

Court Disposition

Appeal allowed. Declaration 3 varied. Respondent to pay costs and to have a certificate under the Suitors' Fund Act.

Orders

  • Appeal allowed.
  • Declaration 3 varied by omitting the words 'but does not include the purchase price of the land the subject of the agreement' and adding 'including the purchase price of the land the subject of the agreement'.