In this case a mortgage included a provision which made the lodging of a caveat over the security a breach of the loan. In the event of a default the mortgage had an acceleration clause. Both the borrower and the guarantors, in different cases, resisted the lender’s claim on the grounds that the caveats which …
Perpetual Nominees v Aus Constructions [2005] NSWSC 1199 Read More »
This court of appeal decision considered the enforceability an indemnity costs clause in a mortgage. Through its review of the case law the following principles can be gleaned: An order for the payment of costs of proceedings by one party to another party is always a discretionary order: s.76(1)(a) of the Supreme Court Act; Where …
Kyabram Property Investments v Murray [2005] NSWCA 87 Read More »
The defendant borrowed $100,000 from the plaintiff which was secured over the defendant’s land by a mortgage. The lender sought possession of the land upon default by the borrower in making repayments. The defendant denied any default had occurred. The mortgage document failed to specify the date by which the principal was to be repaid. …
