South Australian Consolidated Acts South Australian Consolidated Acts18—Obligations and offences in relation to subdivided land
(1) A person who, in
order to induce another person (the "prospective purchaser ) to purchase
subdivided land states—
(a) that
the person or some other person will buy at a profit to be received by the
prospective purchaser other land or a chattel then owned by the prospective
purchaser; or
(b) that
the person or some other person will at some future time obtain for the
prospective purchaser a profit on the subdivided land or part of it,
is guilty of an offence.
Maximum penalty: $5 000 or imprisonment for 1 year.
(2) A contract for the
sale of subdivided land or an interest in subdivided land is (except where the
sale is by public auction) voidable at the option of the purchaser at any time
within six months after the making of the contract unless the contract—
(a) is
in writing; and
(b)
contains the following particulars:
(i)
the name, address and description of the vendor;
(ii)
the name, address and description of the person who is,
at the time when the contract is made, the owner of the land or interest;
(iii)
the allotment number of the land and the name (if any) of
the subdivision, or other information sufficient to enable the land to be
readily identified;
(iv)
the name, address and description of some person to whom
all money falling due under the contract may be paid towards satisfaction of
the contractual liability.
(3) A purchaser will
not be taken to have elected to affirm a contract that is voidable under this
section by reason of a payment made under the contract.
(4) Where a contract
that is voidable under this section is avoided, the purchaser may recover the
money paid under the contract.