A costly mistake - Thompson v Leigh [2006] NSWSC 540
Fri Jan 12 2007
Taxation in Australia --- Page: 280-281 : November 2006 Original article by Jeffrey Chang
ABIX Summary
Errors in contracts for the purchase of land can be costly. In "Thompson v Leigh", the New South Wales Supreme Court considered a case involving the director of the trustee of a unit trust who mistakenly entered into a contract as an individual rather than the intended purchaser which was the trust. The director tried to rectify the mistake but the matter become complicated when the director became bankrupt. The case shows that it is necessary to understand the trust structures well.
