8 Nov 2017
INCODO LTD v KOP-COAT NEW ZEALAND LTD & ANOR [2017] NZHC 2737
- Citation
- [2017] NZHC 2737
- Court
- High Court
Court found a binding contract formed on 22 May 2015. Mr Scott had ostensible authority to bind Kop-Coat NZ and, on the facts and s18 Companies Act, Kop-Coat Inc was bound by his apparent authority. Defendants repudiated the contract on or about 3 July 2015. Claims under the Contractual Remedies Act and Fair Trading Act were considered but no separate damages award made under the Fair Trading Act; misrepresentation claim failed. Damages for loss of chance assessed: court adopted plaintiff expert's valuation ($3,470,000) discounted to a 60% chance to reflect the quality of the lost opportunity…