Killarney Investments Pty Ltd v Macedonian Community of WA (Inc)

In Killarney Investments Pty Ltd v Macedonian Community of WA (Inc), Killarney Investments, the purchaser, sought interest as compensation for late settlement in relation to the sale of land. The court was required to determine the legal issues surrounding the purchaser's claim for interest under the contract, particularly in light of the vendor's failure to meet certain conditions within the stipulated timeframe, and the subsequent completion of the contract six months after the settlement date. The central issue was whether the purchaser was ready, willing and able to settle on time, and if the tender of an executed and stamped transfer was a condition of the purchaser's entitlement to interest for late settlement.

The court examined the interplay between the express terms of the Offer and Acceptance, and the general conditions contained in the Joint Form of General Conditions for Sale of Land 2000 revision. It noted that the purchaser had waived one condition for its benefit, and that the purchaser had unequivocally elected to affirm the contract of sale, despite non-compliance with the subdivisional conditions. The court considered the principle that conditions for the benefit of the purchaser alone could be waived by the purchaser, and that such waiver did not necessarily mean that the purchaser relinquished its right to claim interest under the general conditions. The court concluded that the purchaser had not abandoned its right to claim damages for the loss suffered as a result of the breach, and that the purchaser was entitled to interest for late settlement. The court allowed the appeal, set aside the judgment of the District Court dismissing the appellant's claim, and ordered that the appellant was entitled to judgment for $47,049.18.