High Court of Australia

Simic v New South Wales Land and Housing Corporation [2016] HCA 47

7 Dec 2016

Case Number: S136/2016


French CJ, Kiefel, Gageler, Nettle, Gordon JJ


Contract – Construction of terms – Performance bonds – Where unconditional undertakings by financial institution to pay on demand ("Undertakings") required as security under construction contract – Where Undertakings and underlying finance applications erroneously referred to non-existent entity as payee because incorrect information provided by applicant for security – Principle of autonomy – Principle of strict compliance – Whether possible to construe references to non-existent entity in Undertakings and applications as references to counterparty to construction contract.

Contract – Rectification – Actual or true common intention of parties – Where references to non-existent entity in Undertakings and applications result of common mistake – Whether rectification available to correct references to non-existent entity.

Words and phrases – "actual or true common intention", "bank guarantee", "common mistake", "letter of credit", "performance bond", "principle of autonomy", "principle of strict compliance", "rectification", "subjective intention of the parties".
View   RTF

PDF MD5: c6584e17e1823afef5ec87b261c03508
RTF MD5: 2b3fa2d0dbea3d7a59c77bbf98337dbe