Where a lease is materially altered (by addition of a prior encumbrance notation) without the guarantor's consent before registration, the guarantee is discharged even though the lease itself becomes effective upon registration by virtue of Torrens Title indefeasibility. Under s 51 of the Real Property Act 1900 (NSW), a transferee of a lease is liable for the lessee's obligations only while registered as proprietor; liability ceases upon further transfer. In misleading conduct claims under the Fair Trading Act concerning business sales, financing costs incurred by the purchaser are recoverable as loss suffered by the misleading conduct, and the Leisbosch Dredger impecuniosity principle does not apply.
The full text is available to signed-in members, including the 95 later cases that cite this judgment.
14 of the 95 citing cases carry a classified treatment. How each court treated it is available to signed-in members.