Storey v Advanced Bank This case regards the company seal. Facts Storey negotiates a loan with Advanced Bank In the name of a company Storey is the director, but he requires board approval for loan He get board approval, but affixes company seal Held If, prima facie, the company seal is affixed, there is no requirement for the bank to check with the board. Snowlong Pty Limited v Choe This case is an example of either fraud or personal equity. A landlord is subject to an unregistered 5 year lease Purchaser agrees to buy subject to the lease Purchaser registers Purchaser seeks to kick out tenant, since his title falls outside of the short tenancies rule Held The purchaser agreed to be subject to the If he formed the intent to the agreement before registration, it is fraudulent If he formed the intent after, he is subject to a claim of personal equity Prior folios (s 42(1)(a) of the Real Property Act) the Land Title Office makes a mistake, and there are two different CT’s for the same piece of land, the older CT prevails. If an error is made, you can recover damages.
Storey v Advanced Bank This case regards the company seal. Facts Storey negotiates a loan with Advanced Bank In the name of a company Storey is the director, but he requires board approval for loan He get board approval, but affixes company seal Held If, prima facie, the company seal is affixed, there is no requirement for the bank to check with the board. Snowlong Pty Limited v Choe This case is an example of either fraud or personal equity. A landlord is subject to an unregistered 5 year lease Purchaser agrees to buy subject to the lease Purchaser registers Purchaser seeks to kick out tenant, since his title falls outside of the short tenancies rule Held The purchaser agreed to be subject to the If he formed the intent to the agreement before registration, it is fraudulent If he formed the intent after, he is subject to a claim of personal equity Prior folios (s 42(1)(a) of the Real Property Act) the Land Title Office makes a mistake, and there are two different CT’s for the same piece of land, the older CT prevails. If an error is made, you can recover damages.
real-property-notes.docx