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Trade suppliers, commercial credit providers and parties to commercial transactions commonly include what is referred to as a ‘charging clause’ in their terms of trade, contractual agreements and guarantee documentation. ...

Calculation of contract damages

The High Court of Australia recently held in Tabcorp Holdings Ltd v Bowen Investments Pty Ltd [2009] HCA 8 that a tenant who conducted unauthorised alterations to the foyer of a commercial building was liable to compensate the landlord.

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Perils in exercising power of sale

In Sablebrook P/L v. Credit Union Australia [2008] QSC 242 the mortgagee breached section 85 of the Property Law Act 1974 by failing to take reasonable care to ensure the mortgage property was sold at market value.

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Charging clause – beware!

Trade suppliers, commercial credit providers and parties to commercial transactions commonly include what is referred to as a ‘charging clause’ in their terms of trade, contractual agreements and guarantee documentation.

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Business purpose declaration provided too late

In Bahadori -v- Permanent Mortgages Pty Ltd (2008) NSWCA 150 (26 June 2008) the New South Wales Court of Appeal decided that a signed business purpose declaration was ineffective under section 11(2) of the Consumer Credit Code where the declaration was obtained after the credit contract was entered into.

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