18 Dec 2014
BODY CORPORATE 345866 and ANOR v RUSSMORR LTD [2014] NZHC 3323
- Citation
- (2014) 16 NZCPR 213
- Court
- High Court
The secretary lacked authority (actual, apparent or ostensible) to bind the body corporate to the Russmorr guarantee; the guarantee was therefore invalid and unenforceable as against the body corporate, estoppel could not validate an unlawful/unauthorised guarantee given Russmorr's and AML's knowledge of the lack of authority, but the Russsmorr-AML lease (separate from the invalid guarantee) remains valid and enforceable and the earlier Buffalo lease was effectively surrendered by conduct and replaced by the registered Russmorr lease.