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ARTICLE · 30 JUNE 2016

Essential terms in a contract must be stated clearly

Colin Biggers & Paisley
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A purchaser's contract breach does not entitle the vendor to terminate, unless it is specifically stated in the contract.

AustraliaReal Estate and Construction
Chris Rumore
Chris Rumore

In brief - Purchaser's contract breach does not entitle vendor to terminate

Where a term negotiated for inclusion in a contract is essential so that breach of or non-compliance with the essential term entitles you to withdraw from the transaction, it is clear from the decision of Fuentes v Bondi Beachside Pty Ltd [2016] NSWSC 531 that the contract must specifically state this.

Order for specific performance of purchase contract sought by purchaser

This case related to a 2012 off-the-plan sale of a unit at Bondi Beach.

One of the provisions of the contract precluded the purchaser assigning, novating or otherwise disposing of its interest in the sale contract before completion without the consent of the vendor.

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