A notice of default and rescission under General Conditions 27 and 28 of the Victorian standard form contract for sale of land can both refix time as of the essence and provide for automatic rescission upon non-compliance, without the need for a further notice after the stipulated period expires. The reasoning in Thornton v Bassett, though based on the former Table A cl 6, applies by analogy to the current General Conditions. Where a vendor has set time at large by agreeing to an indefinite extension, a notice giving 14 days to complete is capable of refixing time as of the essence and terminating the contract upon non-compliance.
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