Author: By Lawyers For Lawyers
The most used most practical system for conducting all property transactions with letters and documents in sequence from instruction sheet to final account with relevant informative commentary on each relevant issue each step of the way.
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The contract commences, in the first panel, by setting out the essential agreement between the parties with the statement that “The vendor sells and the purchaser buys the property, being the land and the goods, for the price and on the conditions set out in this contract”. The modern word ‘goods’ has been adopted in preference to the word ‘chattels’.
Next, the contract spells out that its terms are contained in the particulars of sale, special conditions (if any), general conditions and the vendor’s statement. Importantly, it also says they are to have that order of priority, echoing general condition 10 of the old contract.
The general conditions are intended to be standard for all contracts of sale of land in Victoria. To this end, the vendor warrants, in general condition 2.1 that the general conditions are identical to those prescribed by the regulations, except to the extent of any amendment made by way of special condition. In this way parties are able to continue the common practice of adding special conditions where this is felt to be necessary, although it is worth mentioning that the general conditions in the 2008 contract address many of the matters which are dealt with in the more commonly encountered special conditions at present and it is felt that most contracts will not require special conditions at all.
The first panel on the front page goes on to say that the vendor’s statement required by s 32 Sale of Land Act is attached to and forms part of the contract. This is a bolder statement than the one made by the old contract, which is to the effect that the vendor’s statement is “included in” the contract, and adopts the approach taken in Jenkins v Visualeyes Pty Ltd [2005] VSC 218.
It should be noted, though, that the vendor’s statement sits last in the hierarchy of priorities, and any contractual terms contained in it must give way to the general conditions and any special conditions.
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