70Damages for breach of contract to sell land

70 Damages for breach of contract to sell land (1) A vendor who, in breach of contract, fails to perform a contract for the sale of land is liable by way of damages as compensation for the loss sustained by the purchaser in the sum that at the time the contract was made was reasonably foreseeable as the loss liable to result, and which does result, from the failure of the vendor to perform the contract. (2) Unless a contract provides otherwise, a vendor referred to in subsection (1) is not relieved, wholly or in part, from the liability for damages measured under that subsection only because of the vendor's inability to make title to the land the subject of the contract of sale, whether or not the vendor's inability was occasioned by the vendor's own default. (3) This section does not affect a right, power or remedy under any other law in force in the Territory that is available to a purchaser in respect of the failure of a vendor to show or make good title or otherwise perform a contract for the sale of land. (a) does not apply to contracts for the sale of unregistered land; and (b) applies only to contracts for the sale of land entered into after the commencement of this Act.