A recent case involved a failed joint venture relating to the development of a shopping centre in Campbelltown. The plaintiffs were directors of a company involved in the joint venture. In 2008 the joint venture executed an Exclusive Agency Agreement (ELAA) with Savills, which stipulated that Savills was required to locate and introduce potential future tenants to the plaintiffs for its approval. As a result of the unstable economic climate during the time, Savills had trouble finding tenants to fill the centre and on two separate occasions Savills informed the plaintiffs of the difficulties and advised them to defer the opening of the centre. On both occasions the suggestion was rejected. The centre opened with 55% tenant capacity, with the minimal rental income contributing to the failure of the JV to make interest payments.  The Plaintiffs brought a claim against Savills claiming that they were liable in Contract and Tort for failing to secure tenants. The Court ruled that the Plaintiffs failed to establish that a special duty of care was owed by Savills, and also that the terms of the ELAA did not stipulate a requirement for a specific tenancy rate. In finding in favour of Savills the court also held that their conduct did not depart from the reasonable standard of care that a leasing agent owes to their clients. This case illustrates that caution should be taken when attempting to imply terms to a contract.

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