'Consequential loss' in a contractual exclusion clause means losses beyond the normal measure of damages (such as profits lost or expenses incurred through breach), not merely losses falling within the second rule in Hadley v Baxendale. 'Liquidated damages' in an exclusion clause bears its ordinary meaning of a sum fixed by the parties as a genuine pre-estimate of damage in the event of breach, and does not extend to unliquidated damages merely because the plaintiff can specify the costs incurred. Where misleading and deceptive conduct induces the purchase of an asset for a particular purpose for which it is unsuitable, and there is no evidence the asset was worth less than the price paid, the cause of action under s 82 of the Trade Practices Act does not accrue until the asset is applied to the purpose and found unsuitable.
The full text is available to signed-in members, including the 38 later cases that cite this judgment.
2 of the 38 citing cases carry a classified treatment. How each court treated it is available to signed-in members.