Attach the correct warning statement


Autoria(s): Dixon, William M.
Data(s)

01/06/2004

Resumo

Practitioners will be aware that s 366 (1) of the Property Agents and Motor Dealers Act 2000 provides that a relevant contract must have attached, as its first or top sheet, a warning statement in the approved form. A failure to attach a warning statement in the prescribed manner triggers a right of termination in the buyer. The factual circumstances in Devine Ltd v Timbs [2004] QSC 24 are indicative of the problems that may arise in the construction of this statutory provision. The application concerned put and call option agreements entered into concerning 4 lots. The agreements, in identical terms, were signed before the applicant seller had completed a proposed residential apartment building. In each case the option agreement provided that the agreement was not binding on the seller until and unless the purchaser returned to the seller, amongst other things, two copies of the warning statement under the Property Agents and Motor Dealers Ac 2000 signed by the purchaser and two copies of the contract document signed by the purchaser. The seller was required to hold the contract documentation in escrow and was forbidden to sign it until and unless either option was exercised.

Formato

application/pdf

Identificador

http://eprints.qut.edu.au/42465/

Publicador

Lawbook Company/Thomson Legal & Regulatory

Relação

http://eprints.qut.edu.au/42465/2/42465.pdf

http://www.thomsonreuters.com.au/catalogue/productdetails.asp?id=1209

Dixon, William M. (2004) Attach the correct warning statement. The Queensland Lawyer, 24(6), p. 285.

Direitos

Copyright 2004 Lawbook Company/Thomson Legal & Regulatory

Fonte

Faculty of Law

Palavras-Chave #180124 Property Law (excl. Intellectual Property Law) #Property Law #s 366 (1) of the Property Agents and Motor Dealers Act 2000 #warning statement
Tipo

Journal Article