In Re Warner v Elders Rural Finance Limited [1992] FCA 473 the applicants sought to invalidate a mortgage alleging that all the bank had offered was a “book-entry credit created at no cost” and therefore the bank was engaging in deceptive and misleading practices.
The court noted it is well established that “A debit or credit by a banker or financial institution even though no money is transferred in specie operates as a payment” citing Eyles v. Ellis [1827] EngR 409; (1827) 4 Bing 112 at 113-114; Momm v. Barclays Bank International Ltd. (1977) 1 QB 790 at 800-803).
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- http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/FCA/1992/473.html
- https://freemandelusion.files.wordpress.com/2020/10/re-adrian-allan-warner-and-julie-francis-warner-v-elders-rural-finance-limited-1992-fca-473.pdf http://www6.austlii.edu.au/cgi-bin/LawCite?cit=%281827%29%204%20Bing%20112 http://www.worldlii.org/int/cases/EngR/1827/409.html https://freemandelusion.files.wordpress.com/2020/11/eyles-v.-ellis-1827-engr-409-1827-4-bing-112-at-113-114.pdf
- http://www6.austlii.edu.au/cgi-bin/LawCite?cit=%281977%29%201%20QB%20790
