CONTRACTS — cross-claims — Contracts Review Act 1980 — whether loan and mortgage unjust — no independent legal advice — elderly borrowers with limited command of English and no ability themselves to repay borrowings — experienced borrowers who had previously received legal advice and who understood and consented to increased borrowings — borrowers also appreciated and consented to risks involved in transaction — whether borrowers had the benefit of the money in issue — part of borrowings used to repay another loan — contract not unjust — whether relief would be granted if contract found unjust — relief would be refused — Australian Securities and Investments Commission Act 2001 — whether brokers engaged in misleading or deceptive conduct — passing on false information — implied disclaimer — misleading and deceptive conduct not established — whether brokers engaged in unconscionable conduct — not ensuring borrowers obtained independent legal advice — unconscionable conduct not established — loss claimed not established — cross-claims dismissed
Case Details
Citation[2011] NSWSC 607
CourtNSWSC
JurisdictionNew South Wales
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