PROPERTY VENTURES INVESTMENTS LTD V REGALWOOD HOLDINGS LTD SC 85/2008
The Supreme Court granted leave to appeal and confined the appeal to the three specified questions; the Court made no substantive determination on the entitlement to abatement, the sufficiency of the compensation claim, or the validity of the vendor's cancellation at this stage.
Source-derived case information.
- Citation
- SC 85/2008
- Parties
- Appellant: PROPERTY VENTURES INVESTMENTS LTD; Respondent: REGALWOOD HOLDINGS LTD
- Court
- Supreme Court
- Jurisdiction
- New Zealand
- Judgment Date
- 4 February 2009
- Procedural Posture
- Appeal to Supreme Court / Leave to Appeal Granted
- Outcome
- Leave to appeal granted
- Legal Topics
- Breach of Warranty, Building Act Compliance, Building Warrant of Fitness, Abatement of Purchase Price, Cancellation of Contract, Settlement
Source-derived case record
Summary, issues, holding and outcome
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Parties
PROPERTY VENTURES INVESTMENTS LTD
Appellant
REGALWOOD HOLDINGS LTD
Respondent
Procedural Posture
Appeal to Supreme Court / Leave to Appeal Granted
Legal Issues
- 1 Whether purchaser entitled to settle with an abatement of purchase price for breach of warranties of compliance with the Building Act 1991 and in respect of a building warrant of fitness
- 2 Whether the purchaser's claim for compensation was sufficiently made
- 3 Whether the vendor was entitled to cancel the contract at the time it gave notice of cancellation
Ratio Decidendi
The Supreme Court granted leave to appeal and confined the appeal to the three specified questions; the Court made no substantive determination on the entitlement to abatement, the sufficiency of the compensation claim, or the validity of the vendor's cancellation at this stage.
Court Disposition
Leave to appeal granted
Orders
- Leave to appeal granted
- Ground 1: Whether the purchaser was entitled to settle its purchase of land from the vendor with an abatement of the purchase price by way of compensation by reason of breach of warranties of compliance with the Building Act 1991 and of the existence of and qualification for a building warrant of fitness (the...
Full Case Text
Judgment text and source record
1 paragraphs
PROPERTY VENTURES INVESTMENTS LTD V REGALWOOD HOLDINGS LTD SC 85/2008 4 February 2009IN THE SUPREME COURT OF NEW ZEALAND SC 85/2008 [2009] NZSC 5BETWEEN PROPERTY VENTURES INVESTMENTS LTD Appellant AND REGALWOOD HOLDINGS LTD Respondent Court: Elias CJ, Blanchard and Tipping JJ Counsel: A J Forbes QC for Appellant R A Osborne and H R Smith for Respondent Judgment: 4 February 2009JUDGMENT OF THE COURT A Leave to appeal is granted. B The approved grounds of appeal are: 1. Whether the purchaser was entitled to settle its purchase of land from the vendor with an abatement of the purchase price by way of compensation by reason of breach of warrantees of compliance with the Building Act 1991 and of the existence of and qualification for a building warrant of fitness (the existence of such breaches for present purposes being assumed); 2. Whether, if the purchaser was so entitled, its claim for compensation was sufficiently made; 3. Whether the vendor was entitled to cancel the contract at the time when it gave its notice of cancellation.Solicitors: Cousins & Associates, Christchurch for Appellant Duncan Cotterill, Christchurch for Respondent