Waldon v Rostrevor Estate Limited (In Liquidation)

This case concerned an appeal to the High Court of Australia from a decision of the Supreme Court of South Australia. The appellant, Mr. Waldon, had entered into contracts to purchase land from Rostrevor Estate Limited. Mr. Waldon failed to pay the balance of the purchase money by the due dates. The company subsequently sued Mr. Waldon for the outstanding amounts and obtained a default judgment, but execution on this judgment was returned unsatisfied. Approximately five months after the judgment, the company resold the land. Mr. Waldon then sought specific performance of the original contracts or, alternatively, damages for breach of contract.

The central legal issues before the High Court were whether Mr. Waldon was entitled to specific performance or damages, and whether the company's resale of the land was valid. Specifically, the court had to determine the effect of the company obtaining a judgment for the purchase money on its subsequent right to resell the property, and whether Mr. Waldon's delay in satisfying the judgment disentitled him to equitable relief.

The High Court, by a majority, dismissed the appeal. Knox C.J. found that Mr. Waldon was not entitled to relief due to his unreasonable delay in satisfying the judgment obtained against him. Isaacs and Starke JJ. held that the resale was valid and within the authority conferred on the company by the conditions of sale, which allowed the company to resell the land without prejudice to other remedies. They reasoned that these conditions provided a contractual mechanism for the company to protect itself against loss from the purchaser's non-performance, and that the company had validly exercised this power.

The appeal was dismissed with costs.