LAWS1150 - Principles of Private Law - UNSW Sydney

Assignment Task

1. Albert is a 78-year-old farmer who owns several properties outside of Wagga Wagga, NSW. For as long as anyone can remember he has been prone to periods of moodiness and cantankerousness. While his mind is still sharp his body is slowing so for the last 10 years he has relied on his son Bernard for assistance with different aspects of running the farm.

2. In September 2019, Albert is approached by his neighbour Catriona with an offer to buy one of Albert’s properties, called Willowbend. They arrange a meeting at which Albert, Bernard and Catriona discuss the proposal for several hours. Catriona would like a long settlement period to allow her time to arrange finance. They finally reach an agreement, which Bernard records on a piece of paper as follows:

3. Albert will grant Catriona a lease over Willowbend from 1 November 2019 to 31 October 2020 at a rental of $10 000 per month;

4. At the end of the 12-month lease, Albert will then sell Willowbend to Catriona for the price of $1.

5. The agreement is subject to the preparation of a formal written contract, at which point Catriona is required to pay a deposit.

This LAWS1150 – Law has been solved by our PHD Experts at My Uni Paper.