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Case Study on Vendor and Purchaser Law

   

Added on  2019-11-29

11 Pages2214 Words511 Views
Running head: VENDOR AND PURCHASER LAWVendor and Purchaser LawName of the StudentName of the UniversityAuthor Note

1VENDOR AND PURCHASER LAWTable of ContentsBakhos v Fenner & Anor [2007] NSWSC 641...............................................................................1Issue.............................................................................................................................................1Relevant Legislation and Case Law............................................................................................1Analysis.......................................................................................................................................2Conclusion...................................................................................................................................3Urban House v Purnell Bros [2007] NSWSC 1248.........................................................................4Issue.............................................................................................................................................4Relevant Legislation and Case Law............................................................................................4Analysis.......................................................................................................................................6Conclusion...................................................................................................................................7Reference.........................................................................................................................................9

2VENDOR AND PURCHASER LAWBakhos v Fenner & Anor [2007] NSWSC 641Issue According to the case study, the plaintiff has been alleged the defendant for the firing anddamaging the property. Therefore now the issue has been found that whether the fondant is liablefor the damage of the property?Relevant Legislation and Case Law According to the case study, the sustainable damages are not considered as damage until it makesany conflict with the rights of the buyer. Therefore when a risk is identified then it is importantto prove the damages due to the negligence by the defendant towards the plaintiff. The sec- 66L of the Conveyancing Act 1999 defines the power to rescind where landsubstantially damaged. Therefore in this act, it is defined that when it is found that the land isfound to be substantially damaged and it only granted after the making of a contract for the saleof any land. If any risk is found for the damages then it only applicable when the damage ispassed due to the risks therefore the purchaser swill have the rights to rescind the said contractby servings in writing in between a particular time. This is a case between Tony Bakhos vs. Regula Fenner and Rolf Maximillian Fennerwhere the Supreme Court of New South Wales equity division has give the judgment about theclaim of the plaintiff where they demanded damages caused from defendant and the section66(L) of the Conveyancing Act 1999 provided such power to rescind where land substantiallydamaged. The issue of the case occurs when the property was damage due to the firing and later

3VENDOR AND PURCHASER LAWthe court has found that the damage was minor and that land was not much substantiallydamaged. Under Section 55 (2A) of the Conveyancing Act 1999 defines the right of purchaser torecover the deposit amount. Therefore according to the contract if the parties has some specificperformance which would not be enforced against the purchaser as per the order of the court andif any defect has been found due to the vendors title therefore the purchaser will not held liable torescind the contract and he also has the power to recover the deposits or any other installments. Italso provides the given due to the Purchase and relief from all the liability in this matter acontract also holds a stipulation including the purchaser from objective regarding the payment. Now when the fire is occurred in that property, the defendant also not present on thatplace. It has been found that it was unoccupied due to the fire. The damage caused according tothe division 7 of part 4 of the Conveyancing Act 1999 and it defines according to the 66 (L) (I)where it has been mentioned that a purchaser has the powers on right to rescind the contractwhere the property is substantially damaged after making the contract. AnalysisAccording to the case study the fact is the plaintiff who is the purchaser has make acontract to buy a house property buy a contract for sale of land with the vendor who is thedefendant Ms Regula Fenner, and Mr Peter Voglsinger who are on the property owner as jointtenants. The purchase price was $1,400,000 where they have decided to payment the amount ininstallment which will helpful to not raise any difficulty.

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