New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Interest on unpaid purchase price

Legal area

Court

1 Apr 2010

PERKINS & ORS V WHANGAREI CITY ASSEMBLY OF GOD TRUST BOARD HC WHA CIV 2010-488-000065

Citation

openlaw-a9f85221_c10e_4cab_96d9_447c5f065acd.pdf
Court

High Court

Defendant has no arguable defence: the purchaser identity was established, the trustees had authority and were ready to settle, the second settlement notice and subsequent cancellation were valid, damages are assessed at date of breach and therefore plaintiffs are entitled to summary judgment for the contractual loss and specified interest and costs.
21 Nov 2005

CAIRNS V MCNEILAGE AND ANOR HC PMN CIV-2005-454-322

Citation

openlaw-f7b9819a_bbfa_4d44_861b_9a8b0fc823a8.pdf
Court

High Court

Trial judge's factual determinations were open to him and this Court will not disturb them; vendor's failure to provide a proper settlement statement constituted vendor default so contractual interest did not run from settlement and interest is awarded from date of judgment at statutory rate; purchaser's equitable set-off for ACC claims was not proven to a sufficient degree and loss-of-chance value was negligible; commercial nature of contract precluded damages for distress; appeals dismissed except limited costs variation in District Court.