23 Jul 2019
Ellice v Stallard [2019] NZHC 1739
- Citation
- [2019] NZHC 1739
- Court
- High Court
The court found on credible unchallenged evidence that the regular cash transfers were loans under an oral agreement to repay on demand, that the defendant accepted and agreed to repay, demand was made in September 2012 and he defaulted; accordingly breach of contract provided a recoverable cause of action and judgment was entered for principal $522,323 with simple interest at 4% per annum from 30 September 2012 under s 24(2)(b)(i) of the Interest on Money Claims Act 2016 and costs on scale 2A.