Motor Trade Finances Prestige Leasing Pty Ltd v Elderslie Finance Group Corporation Ltd and Ors

[2006] NSWSC 1348

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. Contract
2. › Where first defendant did not fail to consider any leasing proposal because none was submitted
3. › No actual breach
4. › Anticipatory breach
5. › Whether contract repudiated by first defendant’s advising inability to secure funding
6. › Whether contract terminated or abandoned before repudiation accepted
7. › Held plaintiff terminated contract by accepting first defendant’s repudiation;
1. Damages
2. › Where contract terminable on one month’s notice
3. › Where virtually certain that first defendant would have exercised its contractual right of termination had performance been insisted on
4. › Held damages for loss of bargain limited to loss of profits which would have been derived during period of notice;
1. Damages
2. › Whether plaintiff lost opportunity to secure finance for finance leases from other financiers
3. › Held loss of opportunity no more than speculative;
1. Damages
2. › Plaintiff entitled to recover expenditure on program in reliance on representations, less income derived and contractual damages claim
3. › what loss proved;