The statutory right of rescission under s 64 of the Property Law Act 1974 (Qld) subsists until actual completion or actual possession, not merely until the contractually agreed completion date. A purchaser may exercise the right at any time before actual completion or possession, including after the contractual completion date has passed and even where an order for specific performance is in force. The vendor's capacity to restore the damage is irrelevant. Where rescission occurs after an order for specific performance, the appropriate course is to vacate the specific performance order.
The full text is available to signed-in members, including the 6 later cases that cite this judgment.