25 Nov 2014
HONEY BEES PRESCHOOLS LTD v 127 HOBSON STREET LTD [2014] NZHC 2942
- Citation
- [2014] NZHC 2942
- Court
- High Court
The Court held that the definition of "Rent Payment Dates" in the First Schedule controlled the timing of payments so the first instalment fell due on 20 January 2014 and subsequent instalments on the same day of each following month; only one instalment was payable on 20 January 2014. The deposit paid into escrow was properly applicable to discharge the initial rental instalments on execution of the Lease and the Lessee was not in default. The Lessor was not entitled to recover on a quantum meruit for the pre-execution period because the parties had agreed (and the Lessor had confirmed) that…