Wood v Lucy Lady Duff-Gordon

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.

High Court of Australia examined the principles governing rectification of written contracts for common intention and unilateral mistake in equity.