20 Aug 2014
OVERTON HOLDINGS LTD v APN NEW ZEALAND LTD [2014] NZHC 1966
- Citation
- [2014] NZHC 1966
- Court
- High Court
Court held there was no actionable implied misrepresentation by APN: the purchaser's assumption from a leaseback did not displace caveat emptor; the IM contained explicit disclaimers about structural surveys and compliance which precluded a reasonable understanding that APN represented structural soundness; clause 18 (non-reliance) was fair and conclusive in the commercial context and barred reliance on any alleged pre-contractual representation; clause 49.1 did not, on its proper construction and read with the lease, impose an obligation on APN to fund capital structural remediation for eart…