Miric v Braams & Ors [2001] NSWSC 299

The evidence accepted by the Court established that Braams agreed to indemnify Miric for Miric's liabilities to Beneficial Finance regarding the loan, covering both principal and interest, and that this agreement was enforceable; ancillary claims regarding units or voting rights were not established.

Parties: Plaintiff: Peter Miric; First Defendant: Garry Arnold Braams; Second Defendant: Starvel Pty Limited
Jurisdiction: Australia
Judgment Date: 23 April 2001
Procedural Posture: Civil / Final Judgment
Outcome: judgment for plaintiff
Legal Topics: Oral Contract, Indemnity, Loan Agreement, Breach of Agreement

Contract Law Equity Oral Contract Indemnity Loan Agreement Breach of Agreement

Case Brief

Summary, issues, holding and outcome

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Parties

Peter Miric

Plaintiff

Garry Arnold Braams

First Defendant

Starvel Pty Limited

Second Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

1 Whether an enforceable oral agreement of indemnity was made at the meeting of 22 March 1993 covering Miric's liabilities to Beneficial Finance
2 Whether Braams was obliged to pay principal and interest under the loan agreement
3 Whether ancillary claims regarding units or voting rights in the trust were established

Ratio Decidendi

Court Disposition

judgment for plaintiff

Orders

Judgment for the plaintiff against the First and Second Defendants in the sum of $744,792.30.
The First and Second Defendants pay the plaintiff's costs of the proceedings.