Can compensation be claimed under the standard commercial land and building contract where the property sold has no legally enforceable vehicular access?

This was the question that confronted Wilson J in Jarema Pty Ltd v Michihiko Kato [2004] QSC 451. Facts The plaintiff was the buyer of a commercial property at Bundall. The property comprised a 6 storey office building with a basement car park with 54 car parking spaces. The property was sold for $5 million with the contract being the standard REIQ/QLS form for Commercial Land and Buildings (2nd ed GST reprint). The contract provided for a “due diligence” period. During this period, the buyer’s solicitors discovered that there was no direct access from a public road to the car park entrance. Access to the car park was over a lot of which the Gold Coast City Council was the registered owner under a nomination of trustees, the Council holding the property on trust for car parking and town planning purposes. Due to the absence of a registered easement over the Council’s land, the buyer’s solicitors sought a reduction in the purchase price. The seller would not agree to this. Finally the sale was completed with the buyer reserving its rights to seek compensation.

The source of the good faith obligation in the performance and enforcement of commercial contracts

There are many issues associated with good faith that will ultimately confront the Australian High Court and a number of these have been well canvassed. However, one significant issue has attracted relatively little comment. To date, a number of Australian courts (lower in the judicial hierarchy) have been prepared to hold directly, tacitly accept or assume (without making a final determination) that good faith is implied (as a matter of law) in the performance and enforcement of a very broad class of contract, namely commercial contracts per se. This broad approach is demonstrated in decisions from the Federal Court, the New South Wales Court of Appeal, the Supreme Courts of Victoria and Western Australia and has crept into pleadings in commercial matters in Queensland

Acquire a practical overview of 'good faith' in commercial contracting

The twists and turns in the ongoing development of the implied common law good faith obligation in the commercial contractual arena continue to prove fertile academic ground. Despite a lack of guidance from the High Court, the lower courts have been besieged by claims based, in part, on the implied obligation. Although lower court authority is lacking consistency and the ‘decisions in which lower courts have recognised the legitimacy of implication of a term of good faith vary in their suggested rationales’, the implied obligation may provide some comfort to a party to ‘at least some commercial contracts’ faced with a contractual counterpart exhibiting symptoms of bad faith.

The level and quality of Value-at-Risk disclosure by commercial banks

In this paper we study both the level of Value-at-Risk (VaR) disclosure and the accuracy of the disclosed VaR figures for a sample of US and international commercial banks. To measure the level of VaR disclosures, we develop a VaR Disclosure Index that captures many different facets of market risk disclosure. Using panel data over the period 1996–2005, we find an overall upward trend in the quantity of information released to the public. We also find that Historical Simulation is by far the most popular VaR method. We assess the accuracy of VaR figures by studying the number of VaR exceedances and whether actual daily VaRs contain information about the volatility of subsequent trading revenues. Unlike the level of VaR disclosure, the quality of VaR disclosure shows no sign of improvement over time. We find that VaR computed using Historical Simulation contains very little information about future volatility.

Journalism in the cinema

This chapter explores the representation of journalism in one of the most important popular culture forms, cinema. It advocates the use of movies about journalism in journalism studies teaching and research, and reviews the existing literature on the subject.

Journalism's screen test

I’ve been researching, teaching and writing about journalism for more than two decades. Throughout that time I’ve used feature films to illustrate howthe journalist is represented in popular culture.

Journalism at the movies

Welcome to the first of what will be a regular review essay on films about journalism, covering recent releases as well as looking back at established classics and under-rated obscurities. And there is plenty to write about. Since 2008, and the end of the research period which informed my 2010 book on Journalists in Film there has been a steady stream of films in which a journalist is a primary character, and in which the nature and functioning of journalism is a theme. Morning Glory (Roger Michell, 2010), the story of a ‘serious’ news man (Harrison Ford) having to adapt to the infotainment environment of breakfast news, came out early in 2011 in the United Kingdom. The well-received UK indie Monsters (Gareth Edwards, 2010), a sci-fi with a journalist at its heart, was released in 2010. In The Soloist (Joe Wright, 2009) Robert Downey Jr played a feature journalist who befriends a mentally ill street musician and seeks to rescue him through his writing. Stieg Larsson’s Millennium trilogy has produced three Swedish films, all of them focused on the campaigning journalist Mikael Blomkvist. The first of these is being remade by Hollywood as of this writing.

The promise of computational journalism

Computational journalism involves the application of software and technologies to the activities of journalism, and it draws from the fields of computer science, the social sciences, and media and communications. New technologies may enhance the traditional aims of journalism, or may initiate greater interaction between journalists and information and communication technology (ICT) specialists. The enhanced use of computing in news production is related in particular to three factors: larger government data sets becoming more widely available; the increasingly sophisticated and ubiquitous nature of software; and the developing digital economy. Drawing upon international examples, this paper argues that computational journalism techniques may provide new foundations for original investigative journalism and increase the scope for new forms of interaction with readers. Computer journalism provides a major opportunity to enhance the delivery of original investigative journalism, and to attract and retain readers online.

Media as creative industries : conglomeration and globalization as accumulation strategies in an age of digital media

This chapter will begin by considering some of the distinctive features of media as creative industries, including their assessment of risk and return on investment, team-based production, the management of creativity, the value chain of production, distribution and circulation, and the significance of intellectual property in their revenue strategies. It will then critically appraise three strategies to capture new markets and revenue streams in the context of the rise of the Internet, digital media and globally networked distribution. The three strategies to be considered are conglomeration, networking and globalization, and the focus will be on the media giants such as News Corporation, Disney and Time-Warner. It will be argued that all three present considerable challenges in their application, and digital media technologies are weakening rather than strengthening their capacity to control the global media environment. The chapter will conclude with consideration of some implications of this analysis for questions of media power.