1. What were the main defects of the old system of title? Briefly explain how the Torrens system address those defects?

1. What are the key features of the Torrens system?

1. What are the underlying principles of the Torrens system?

1. Explain the consequence of registration under the Torrens system?

1. What is "indefeasibility"? Why do we say Torrens title is "indefeasible"?

1. What is the consequence of registration of an instrument? Discuss with reference to state-based statutory provisions.

1. Alison was the owner of a house in your state. Lupin forged Alison's signature and sold the house to an innocent purchaser, Ben. Following the completion of the sale, the transfer was registered in Ben's favour. Ben subsequently sold the proper to Camilla and the transfer was registered in Camilla's favour. Discuss immediate and deferred indefeasibility with reference to the two registered transfers.
2. What does it mean to say that fraud must be "brought home"?

1. Does "mere" notice (or knowledge) of the prior interest amount to fraud? Discuss briefly with reference to statutory provisions and case law.

1. Peter is a struggling musician with a penchant for finer things in life and unable to pay for a return trip to the United States to attend the country music festival in Nashville. Peter's university mate and good friend Paul is a hard-working hedge fund manager who owns a luxury apartment in Broadbeach. Paul refuses to loan $250,000 to Peter to cover his airfares, living expenses and accommodation for 6 months while he explores work opportunities in Nashville after attending the music festival. Disappointed and angry, Peter pretends to be Paul approaches Bull Finance (BF) for a $250,000 loan and offers Paul's property in Broadbeach as security for the mortgage. Rodney, the new manager at BF had only met Paul once before (Peter and Paul are of similar height and appear similar) and accepts Peter as Paul. Rodney proceeds with the loan accepting the Broadbeach property as security. Peter persuades Rodney into preparing the mortgage documents quickly and signs them immediately with Rodney witnessing Peter's signature (Peter signing as Paul). The mortgage documents are registered. Peter intends to repay the money without Paul noticing the mortgage, and however, fails to repay after he finds himself broke after several trips to The Star Gold Coast with friends to celebrate his upcoming trip to the US. BF is planning to exercise its power of sale to recover the money lent on the mortgage. Advise Paul on his rights and remedies.

1. Discuss the scope and effect of the indefeasibility provisions as they relate to volunteers. Should there be an exception inferred to indefeasibility in relation to volunteers?