Muirhead v Commonwealth Bank of Australia

[1996] QCA 241

Queensland Court of Appeal

Built by Barristers,
For Australian Law.

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Interrogate

Catchwords

1. Bills of Exchange
2. › Signature
3. › Whether printed or typed name authenticated by handwritten signature of authorised agent constitutes valid signature
4. › Signature by agent on behalf of principal
5. › Bills of Exchange Act 1909 (Cth), ss 4, 28(1), 28(3), 97(1)
1. Bills of Exchange
2. › Notice of dishonour
3. › Whether notice dispensed with where drawee under no obligation to accept or pay bill
4. › Drawee and payee identical
5. › Bills of Exchange Act 1909 (Cth), ss 50(1), 51(2)(c), 52(1)(a), (b), 53, 55(2)(c)(iv)
1. Mortgages
2. › Power of sale
3. › Duty of mortgagee exercising power of sale
4. › Whether duty under s 85(1) extends to sale by receiver appointed as agent of mortgagor
5. › Relationship between s 85(1) and s 92(2)
6. › Property Law Act 1974 (Qld), ss 83(1)(c), 85(1), 85(3), 85(5), 92(2)
1. Mortgages
2. › Receiver
3. › Receiver appointed by mortgagee as agent of mortgagor
4. › Whether mortgagee liable for receiver's acts and defaults in selling mortgaged property
5. › Property Law Act 1974 (Qld), s 92(2)

Quick Take

A mortgagee's statutory duty under s 85(1) of the Property Law Act 1974 (Qld) to take reasonable care to ensure property is sold at market value does not apply where the sale is effected by a receiver appointed under the mortgage who acts as agent of the mortgagor. The provision making the receiver the mortgagor's agent is not a stipulation relieving the mortgagee from duty within s 85(5). Separately, in Australia, legislation requiring 'signature' of a document does not preclude signature by agent, and a printed or typed name on a bill of exchange authenticated by the handwritten signature of an authorised agent is a valid signature under the Bills of Exchange Act 1909 (Cth).