27 Feb 2014
NEW ZEALAND HOME BONDS LIMITED v GILL [2014] NZHC 312
- Citation
- [2014] NZHC 312
- Court
- High Court
The side agreement between the purchaser and the agent did not render the sale and purchase agreements conditional as against the vendor; Home Bonds had no notice of the side agreement and the homebond terms (cl 27) required only proof of an expired valid settlement notice to trigger payment absent a limited kind of challenge such as to practical completion or title; the dispute here was a vendor/purchaser dispute and did not oblige Home Bonds to withhold payment or investigate further. Accordingly Home Bonds was entitled to recover the $86,240 it paid together with interest and costs.