Summer Hill Business Estate Pty Ltd v Equititrust Ltd

• 1. Contract
  2. › Construction
  3. › Interest provisions in credit facility deeds
  4. › Whether 'default interest' under clause 3.2(3) was different from interest at 'Higher Rate' under remainder of clause 3.2
  5. › Whether overlapping provisions should be given separate operation
• 1. Contract
  2. › Election
  3. › Election between inconsistent rights
  4. › Whether charging and accepting interest at lower contractual rate constituted unequivocal election not to charge at higher rate
  5. › Whether acceptance of part payment of debt precludes claim for balance
  6. › Whether reservation of rights effective to prevent election
• 1. Estoppel
  2. › Promissory estoppel
  3. › Requirement of clear and unambiguous representation
  4. › Whether lender's conduct in charging lower rate on some facilities gave rise to implied promise not to charge higher rate on other facilities
  5. › Whether borrower entitled to assume lender will act similarly across different transactions

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