14 Jun 2022
FUTURE SUSTAINABLE DEVELOPMENT LIMITED v WENJING LIU [2022] NZCA 249
- Citation
- [2022] NZCA 249
- Court
- Court of Appeal
Clause 20.3 (the OIA consent condition) was for the sole benefit of the purchaser and thus could be validly waived unilaterally by the purchaser before the fulfilment date; the vendor was not an associate for OIA purposes on the facts, the waiver was effective, specific performance was available, and the High Court order removing the purchaser's caveat was set aside.
- Waiver of condition precedent
- Interpretation of contract conditions
- Overseas investment act 2005 compliance
- Specific performance
- Caveat