Luo v Zhai [2015] FCA 350
Ms Zhai breached the share acquisition agreement by failing to transfer shares to Mr Luo after payment, entitling Mr Luo to termination and recovery of reliance losses; the restitutionary claim for total failure of consideration was not available due to contractual recovery, and the misleading and deceptive conduct claim failed for want of proof.
- Jurisdiction
- Australia
- Judgment Date
- 17 April 2015
- Procedural Posture
- Civil / First Instance Judgment
- Outcome
- Judgment for applicant
- Legal Topics
- ['breach of Contract' 'damages for Reliance Loss' 'restitution Total Failure of Consideration' 'misleading and Deceptive Conduct']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Civil / First Instance Judgment
Legal Issues
- 1 ['Whether the failure to transfer shares constituted a breach of contract' 'Whether there was a total failure of consideration for restitutionary claim' 'Whether misleading and deceptive conduct occurred under the Australian Consumer Law']
Ratio Decidendi
Ms Zhai breached the share acquisition agreement by failing to transfer shares to Mr Luo after payment, entitling Mr Luo to termination and recovery of reliance losses; the restitutionary claim for total failure of consideration was not available due to contractual recovery, and the misleading and deceptive conduct claim failed for want of proof.
Court Disposition
Judgment for applicant
Orders
- ['Judgment be entered for the Applicant against the First Respondent for $820,000 with interest up to judgment.' 'The matter be listed for any argument on costs on a date to be fixed.']
Full Case Text
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