Glossary

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Commercial Property Transactions - LAWS8025

Faculty: Faculty of Law

School: Faculty of Law

Course Outline: See below

Campus: Kensington Campus

Career: Postgraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 2

Enrolment Requirements:

Prerequisite: Academic Program must be either 9200, 9210, 5740 or 9230

Excluded: JURD7425

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

This course aims to provide the student with a knowledge of contract, equity and property law and cognate statute law governing the conduct of commercial land dealings from the negotiation stage through to completion of contract. The course goes beyond a study of the standard form contract for sale of land used in New South Wales and treats topics of national interest and importance. Where a study of state legislation is made, the New South Wales model will be used although reference may be made, for comparative purposes, to the legislation in other states.

LLM Specialisation

Corporate, Commercial and Taxation Law
Corporate and Commercial Law

Recommended Prior Knowledge

None

Main Topics

The course will cover a number of important issues involved in the commercial use of property, including its use to secure lending. The following topics will be discussed:

Formation of the contract: formalities; deposit and forfeiture of deposit; statutory preconditions under the Conveyancing Act; Masters v. Cameron; options and rights of pre-emption; “informal” contracts, and entitlements to land, arising by means of promissory, conventional and proprietary estoppels;
Title; vacant possession; the standard contract for sale; requisitions; special conditions; GST; dispute resolution under the standard contract; damages for breach at common law and under the contract; notices to perform; termination – Tanwar v. Cauchi;
Leases: formation; Walsh v. Lonsdale; sections 127 and 133 of the Conveyancing Act; standard covenants; breach; assignment; forfeiture and relief against forfeiture; fixtures and tenant’s fixtures;
Mortgages: the security interest under Old System and under the Real Property Act; clogs on the equity of redemption; standard terms; receivership; enforcement under statute; resisting enforcement; forgery and fraud; indefeasibility and the in personam exception;
Easements and Profits: definitions; statutory easements under section 88K and section 40 LEA;
Land use and planning law.

Assessment