Simic v New South Wales Land and Housing Corporation

On termination of a building contract, a builder may recover reasonable value of work done in restitution, subject to the contract price as a ceiling where work was performed under a valid contract.

Bank late payment fees are not penalties where they represent a genuine pre-estimate of loss or protect a legitimate interest of the stipulating party.

Contractual interpretation requires objective assessment of text, context and purpose simultaneously, without privileging any one element.