The Court held that a deed poll acknowledging that a contract for sale of land had 'completed' and that the purchaser had become 'sole proprietor' did not give rise to an estoppel by deed where the same instrument and related contractual documents revealed that the purchase price remained outstanding as unpaid purchase money (not a notional vendor loan), the transfer had not been executed, stamp duty had not been paid, and the mortgage securing the deferred price was held in escrow. The statements of completion were not 'certain, clear and unambiguous' as required for estoppel by deed because they were contradicted on the face of the deed poll itself, and the arrangement was distinguishable from a sale-and-mortgage-back transaction (Postle v Sengstock) because the deferred payments retained their character as purchase price rather than loan repayments. The vendors' notice to complete and subsequent termination were valid, and the purchaser's claim for specific performance and declaratory relief was dismissed.
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