CONTRACT — BREACH OF CONTRACT — PERFORMANCE OF CONTRACT – claim in debt under a loan agreement – where the plaintiff entered into a loan agreement with the defendant – where the loan agreement provided that the plaintiff was to advance $100,000 to the defendant to purchase a “franchise from REFUND home loans” – where the loan agreement purported to give the defendant “full discretion as to how Loan funds are dispersed in order to achieve mutually beneficial objectives and provide ongoing employment opportunities for both parties” – where the loan was fixed for three years at which point the capital and interest was due and payable to the plaintiff – where the loan agreement required the defendant to pay the plaintiff 15% interest per annum – where it is uncontentious that the plaintiff advanced $100,000 to the defendant by way of bank cheque – where the defendant subsequently disbursed those funds to third parties – whether this on proper construction of the loan agreement comprised repayment of the debt – whether the plaintiff repudiated the contract by demanding repayment of the principal before its due date – whether the defendant is in breach of the terms of the loan agreement – whether the claim is statute barredCONTRACT – FRAUDULENT MISREPRESENTATION – claim in deceit – where the plaintiff alleges the defendant induced the plaintiff to enter into the loan agreement and to lend the principal to the defendant by fraudulent misrepresentation as to how the defendant she intended to use the advance – where the plaintiff alleges that at the time of obtaining and bank cheque and entering into the loan agreement, the defendant never had the intention of applying the money for the purpose according to the loan agreement – – whether the plaintiff relied on the alleged misrepresentation – where the plaintiff does not give direct evidence of reliance – where the defendant contends that the loss was caused not by fraudulent misrepresentation but either the plaintiff’s repudiation of the contract or failure to pursue relevant person/s – whether the deceit claim is in any event statute barredEQUITY — EQUITABLE REMEDIES — MISREPRESEN TATIONS — INDUCEMENT – claim for breach of trust – where the plaintiff claims a constructive trust arose over money advanced under a loan agreement induced by fraudulent misrepresentation – where the plaintiff contends the constructive trust was breached by payment out of the money other than for the plaintiff’s benefit – where the loan agreement was not rescinded for fraudulent misrepresentation – whether the principle articulated in Black v S Freedman is applicable to taking money paid under a loan agreement induced by fraudulent misrepresentation as to the intended use of the advance – where the contract itself is an instrument of fraud – whether a constructive trust therefore arose upon receipt of the advance – whether the trust was breached by paying the money away once obtainedLIMITATION OF ACTIONS — STATUTES — DEFENCE – where the defendant relies on limitation defences to the contract and deceit claims – where, under the contract, distinct causes of action accrue at several dates on the proper construction of the loan agreement – where those causes of action accrue at dates which separate interest and principal payments are due – where each of those dates are less than six years before the proceeding was commenced – where, under the deceit claim, the plaintiff first suffered loss by the defendant’s deceit on delivery of the bank cheque – where the plaintiff commenced action after the six year period from suffering loss – whether the plaintiff can rely on statutory extensions – whether s. 38 Limitations of Actions Act (LAA) is applicable – whether the plaintiff did not discover the fraud until within the relevant six year period – what was the plaintiff’s state of mind at certain dates – what constitutes “the fraud” under s. 38 – where states of mind must be inferred – where, under the trust claim, s 27(1) LAA provides that there is no limitation period for fraudulent breach of trust – where s 43 LAA in effect provides that nothing in the LAA affects equitable defences – whether and to what extent is there an interaction between the LAA and equitable defences in relation to claims for fraudulent breach of trust