Young v Wiseman [2022] NSWDC 53

Young v Wiseman [2022] NSWDC 53

The plaintiffs acted reasonably in the circumstances in conducting the resale, taking into account expert advice, prevailing market conditions marked by Covid-19 uncertainty, and achieving a price within the agent’s advised reduction range. The defendant failed to prove that the plaintiffs did not take reasonable steps to obtain a better price or that they sold at an undervalue against the background of prevailing uncertainty. Therefore, the plaintiffs are entitled to recover the deficiency upon resale as liquidated damages per the contract.

Jurisdiction
Australia
Judgment Date
11 March 2022
Procedural Posture
Civil / Trial Decision
Outcome
Judgment for the plaintiff
Legal Topics
['breach of Contract' 'contract for Sale of Property' 'mitigation of Loss' 'liquidated Damages']
['contracts'] ['breach of Contract' 'contract for Sale of Property' 'mitigation of Loss' 'liquidated Damages']

Case Brief

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Procedural Posture

Civil / Trial Decision

Legal Issues

  1. 1 ['Whether the plaintiffs failed to take reasonable steps to achieve a resale of the property at or near market value after termination of initial contract' 'Whether the plaintiffs sold at an undervalue, thus failing to mitigate their loss under the contract' "Whether the plaintiffs' actions in remarketing and selling the property were reasonable in the circumstances"]

Ratio Decidendi

The plaintiffs acted reasonably in the circumstances in conducting the resale, taking into account expert advice, prevailing market conditions marked by Covid-19 uncertainty, and achieving a price within the agent’s advised reduction range. The defendant failed to prove that the plaintiffs did not take reasonable steps to obtain a better price or that they sold at an undervalue against the background of prevailing uncertainty. Therefore, the plaintiffs are entitled to recover the deficiency upon resale as liquidated damages per the contract.

Court Disposition

Judgment for the plaintiff

Orders

  • ['Judgment for the plaintiff in the sum of $133,378.92, subject to any adjustment for further interest until the date of judgment.' "Subject to any further submissions made in relation to costs the defendant pay the plaintiffs' costs."]