Woh Step Back Pty Ltd v Kings Developments (NSW) Pty Ltd [2003] NSWSC 1249

Woh Step Back Pty Ltd v Kings Developments (NSW) Pty Ltd [2003] NSWSC 1249

The contracts were found to be uncommercial transactions due to the undervalue of $75,000. The contracts were varied to increase the purchase price for each lot by $37,500, and specific performance was granted as varied.

Parties
Plaintiff: Woh Step Back Pty Ltd; First Defendant: Kings Developments (NSW) Pty Ltd; Second Defendant: Ozem Kassem; Third Defendant: Deryk Andrew
Jurisdiction
Australia
Judgment Date
19 December 2003
Procedural Posture
Suit for Specific Performance and Cross Claim for Declaration of Uncommercial Transaction / Judgment After Hearing
Outcome
Specific performance granted as varied
Legal Topics
Winding Up, Uncommercial Transaction, Specific Performance, Contract Variation
Corporations Equity Winding Up Uncommercial Transaction Specific Performance Contract Variation

Case Brief

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Parties

Woh Step Back Pty Ltd

Plaintiff

Kings Developments (NSW) Pty Ltd

First Defendant

Ozem Kassem

Second Defendant

Deryk Andrew

Third Defendant

Procedural Posture

Suit for Specific Performance and Cross Claim for Declaration of Uncommercial Transaction / Judgment After Hearing

Legal Issues

  1. 1 Whether contracts for sale of land were uncommercial transactions within the meaning of the Corporations Act 2001
  2. 2 Whether specific performance should be granted
  3. 3 Whether the sale contract should be varied as to price

Ratio Decidendi

The contracts were found to be uncommercial transactions due to the undervalue of $75,000. The contracts were varied to increase the purchase price for each lot by $37,500, and specific performance was granted as varied.

Court Disposition

Specific performance granted as varied

Orders

  • Leave granted to plaintiff to bring proceedings despite first defendant being in liquidation.
  • Declared that, unless varied, the contracts for sale were uncommercial within the meaning of the Corporations Act 2001.