5 Sept 2013
HOWE & Ors v DEMPSEY [2013] NZHC 2297
- Citation
- (2013) NZCPR 682
- Court
- High Court
Court held vendors were ready, able and willing to settle despite lack of executed A&I forms and absence of a settlement statement because purchaser's default caused those omissions and purchaser did nothing to initiate settlement; vendors could not rely on the original settlement notice to cancel more than a year later because they chose not to cancel or to extend the notice; resale did not operate as a valid cancellation under the original notice, but vendors repudiated the contract by reselling and thereby terminated it; vendors are entitled to contractual interest for the period of delay…