7 Mar 2012
CCNZ LIMITED V BOOTH HC HAM CIV-2011-419-1231
- Citation
- openlaw-f955fde9_7205_48b7_b734_4465a9bc5703.pdf
- Court
- High Court
The guarantee was enforceable because the parties were effectively bound to the franchise agreement by 30 March 2007 (lawyers' communication and subsequent ratification), so consideration was not past; however the original franchise agreement expired on 30 May 2010 and was not validly renewed, so the guarantee covers only liabilities accrued and unpaid as at 30 May 2010. Accounting for an admitted advertising refund, judgment was entered for NZD 60,271.48 with contractual interest at 12% p.a. from 30 May 2010; costs were assessed at NZD 6,000 plus disbursements.