Valuation of recovery - partially performed discharged contracts

Article Abstract:

Three recent New South Wales decisions have addressed how to value part performance when a contact is discharged because of breach by the other party. Review of Jennings Constructions Pty. v. Q.H. & M. Birt Pty., Renard Constructions (ME) Pty. v. Minister for Public Works, and Iezzi Constructions v. Currumbin Crest Developments suggests valuation involves a consideration of both market value and contractual terms. While the courts assert that damages are not limited to a pro rata share of contractual valuation, contractual terms may limit restitution awards.

Remedies, Valuation, Restitution, Discharge of contracts, Unjust enrichment, New South Wales, Australia, Performance (Law)

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Metcalfe v NZI Securities Australia Ltd

Article Abstract:

Metcalfe v. NZI Securities Australia Ltd involved violation of section 52 of Australia's 1974 Trade Practices Act, and is illustrative of the care needed for contract negotiation with a preceding letter of intent. A bank had granted a facilities letter, and later loan documents were to implement the letter. A second facilities letter was held against the bank by the judge, as deceptive and misleading conduct.

Contracts, Commercial law, Letters of intent

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