Beware of not documenting transactions fully or having documents incorrectly signed

In brief - Plaintiff fails in bid to enforce commercial property option arrangement

The recent decision in Perception Investire Pty Limited v Bassal Holdings Pty Limited [2015] NSWSC 1954 shows that you need to make sure that you always have documented changes to arrangements. Relying on previous course of dealings or the goodwill parties have engendered throughout a transaction may not be sufficient when things do not go as all parties expect. You also need to ensure that the correct people sign so as to bind other parties to the transaction.

Option arrangement on commercial property fails

Perception Investire Pty Limited v Bassal Holdings Pty Limited involved an option arrangement with respect to a commercial property at Campbelltown, in New South Wales.