New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Interpretation

Legal area

Court

17 Nov 2021

FOREST HOLDINGS (NZ) LIMITED v SHEUNG [2021] NZCA 608

Citation

[2021] NZCA 608
Court

Court of Appeal

The Court held the joint venture agreement was capable of being enforced and the defendant was in breach of his obligation to fund the joint venture (pay $1.17M, properly payable to Pristine Timber to be on-paid to Forest Holdings), but declined to grant specific performance because damages were an adequate remedy, specific performance was discretionary and inappropriate where enforcement would require reconstructing and supervising an ongoing business (and where the vehicle company had been removed from the register), so the appeal was dismissed.
31 Aug 2015

R J S WATHERSTON v ROCKY PEAKS CONTRACTING LTD [2015] NZHC 2084

Citation

[2015] NZHC 2084
Court

High Court

The 20 December 2013 document, properly construed, granted an option to purchase shares in an envisaged joint venture company which was to own Rocky Peaks, not an option to purchase land; therefore it did not create an interest in land capable of registration under s137 Land Transfer Act 1952. The authenticated signature fiction did not apply because the presence of the director's name did not evidence an intention to be bound, and the doctrine of part performance was not established. Consequently the application to prevent the caveat from lapsing was dismissed.