STM123 No. 16 Pty Ltd v Wang

The case of STM123 No. 16 Pty Ltd v Wang involves a dispute between the purchaser, Wang, and the vendor, STM123 No. 16 Pty Ltd. The dispute concerns a breach of the contract of sale by Wang, and the appropriate remedies available to the vendor under the contract. The matter was heard by the Supreme Court of New South Wales.

The primary legal issues that the court had to decide were the appropriate measure of damages for the vendor's breach of contract, and the date at which those damages should be assessed. The contract contained a clause 9 that provided for the recovery of damages in the event of a breach by the purchaser. The vendor argued that the appropriate date for assessing damages was the date of the breach, while Wang contended that the date should be a later date, when the property had been resold in a falling market.

In delivering judgment, the court held that the appropriate date for assessing damages for breach of contract was the date of the breach, not a later date. The court found that there was no question of principle involved in the case, and that the appropriate measure of damages was to be determined by reference to the contract terms. The court noted that the resale of the property in a falling market did not provide a basis for adjusting the date of assessment of damages. The court further held that the vendor was entitled to recover damages for the breach of contract, and that the damages were to be assessed as at the date of the breach.

The final orders of the court were that Wang was liable to pay the vendor damages for breach of contract, and that those damages were to be assessed as at the date of the breach. The court did not make any orders as to the amount of damages to be paid by Wang to the vendor.