Where a statutory demand is based on a debt that depends on the operation of s 55 of the Property Law Act 1974 (Qld) to a contract to which the creditor is not a party, the complexity of the legal and factual issues involved in establishing the preconditions for enforceability under s 55 — including questions of construction, intention, and acceptance — may itself give rise to a genuine dispute sufficient to set aside the demand. The distinction between 'total losses' or 'total liability' and 'financial losses relating to trading' may also give rise to a genuine dispute as to amount.
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