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In a legal essay crtically analyse this Section 111A(1) of the Conveyancing Act 1919 (NSW) states: A mortgagee or chargee, in exercising a power of
In a legal essay crtically analyse this Section 111A(1) of the Conveyancing Act 1919 (NSW) states: A mortgagee or chargee, in exercising a power of sale in respect of mortgaged or charged land, must take reasonable care to ensure that the land is sold for: (a) if the land has an ascertainable market value when it is soldnot less than its market value, or (b) in any other casethe best price that may reasonably be obtained in the circumstances. In contrast, some courts have categorised the mortgagee's duty to a mortgagor in exercising their power of sale as a duty to act in good faith (bona fide). The good faith duty is generally regarded as less onerous than a negligence-style duty. With reference to legal authority, analyse these issues. Refer to leading NSW legislation and their case law
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