National Australia Bank Limited v McFarlane [2002] VSC 116

In National Australia Bank Limited v McFarlane [2002] VSC 116 the defendant resisted a mortgage foreclosure, contending that there was no lawful consideration given for the mortgages as the Bank did not advance the money claimed but merely created a book entry, referring to the US Credit River decisions.  This was alleged to be a fraud on the customer who believes that they are receiving a loan, insisting that unless the supposed lender hands over bullion, banknotes or coin, the mortgage entered into is invalid.

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