4 Jun 2014
COMMERCIAL FINANCE AND SECURITIES LIMITED v S B BOADEN [2014] NZHC 1236
- Citation
- [2014] NZHC 1236
- Court
- High Court
On objective assessment the defendant vested apparent authority in his employee over an extended commercial relationship; CFSL reasonably relied on that apparent authority in advancing funds so the defendant has no arguable defence to the $200,000 drawdown and the default judgment stands; however aspects of the claim (notably a $35,500 advance and the interest calculation given long delay in enforcement) require further consideration, so the application to set aside is adjourned pending those issues.