23 Sept 2020
DOWNER v SIGNATURE DEVELOPMENTS LIMITED [2020] NZHC 2488
- Citation
- [2020] NZHC 2488
- Court
- High Court
Vendor breached clause 26 by consenting to assignment of the agreement to lease without obtaining purchaser's consent; clause 26 was objectively essential to purchaser at contract formation; there was not sufficient or substantial performance to avoid cancellation; purchaser validly cancelled under s37(2)(a) (and s37(2)(b) alternatively) and is entitled to repayment of the deposit with interest.