Authorised by Academic Registrar, April 1996
Objectives Students completing this subject should be able to (1) understand how contracts transferring interests in land are created and operate in practice; (2) identify, comprehend and discuss concepts of the uncompleted contract, breach of contract and conditions implied in an open contract; (3) be equipped to undertake an analysis of a multi-issued problem, to identify relevant issues and to apply and comprehend the statutory conditions impled by Table A of the Transfer of Land Act 1958 (Vic.) and the corresponding Third Schedule of the Property Law Act 1958 (Vic.); and (4) to critically analyse the underlying theoretical and practical issues involved in the investigation of title, land use, town planning, the effect of breach of contract and the remedies available for such breach.
Synopsis The subject will involve analysis, from a theoretical and practical perspective, of the following areas: contract of sale, preliminary documents, cooling off, statute of frauds, effect of execution of contract, position of parties under an uncompleted contract, parties to the contract, conditions implied by Table A of the Transfer of Land Act 1958 (Vic.) and the Third Schedule of the Property Law Act 1958 (Vic.), breach of contract and remedies, defective title and misdescription, disclosure by vendor of defects, other conditions in Table A and Third Schedule, investigation of title, searches and inquiries, land use, completion, Sale of Land Act 1962 (Vic.), flats and units.
Assessment Final examination (3.5 hours): 100%