[1] Mercedes-Benz (NSW) Pty. Ltd. v. A.N.Z. and National Royal Savings Bank Ltd., Supreme Court of NSW, Commercial Division, 5 May, 1992, Palmer AJ at p1.

[2] [1986] 1 AC 717.

[3] at p. 24.

4 at p. 27.

5 Citibank NA v Brown Shipley & Co Ltd; Midland Bank PLC v Brown Shipley & Co Ltd [1991] 2 All ER 69

6 at p.703.

7 both examples are from Uxbridge Permanent Benefit Building Society v Pickard [1939] 2 KB 248.

8 at p. 29.

9 see the discussion at p. 30 ff.

10 at p. 33.

11 at p.34.

12 Northside Development Pty Ltd v Registrar General (1990) 170 CLR 146, per McHugh J, quoted by Palmer AJ at p. 30.

13 Bennett and Fisher Ltd v Commercial Bank of Australia Ltd [1930] SASR 26,33; the test for establishing a defence for the purposes of s95.

14 Morison v London County and Westminster Bank Ltd [1914] 3 KB 356.

15 Morison, at 383, quoted by Palmer AJ at p. 34.

16 the phrase used by Buckley LF at p. 377.

17 [1930] AC 659; see also the decision of the English Court of Appeal in Lloyds Bank Ltd v Chartered Bank of India Australia and China [1929] 1 KB 40 and the Privy Council in Tai Hing Cotton Mill Ltd v Liu Chong Hing Bank Ltd [1986] AC 80.