7 Sept 2020
HERD v HAINES [2020] NZCA 396
- Citation
- [2020] NZCA 396
- Court
- Court of Appeal
On proper interpretation clause 2.1(b) constituted a complete obligation: Herd had the right to nominate land worth AUD$400,000 by reference to a Vanuatu bank panel valuation, so the contract was certain and complied with s40 LPA 1925; clause 11 was machinery only; Vanuatu Stamp Duties Act s19 did not render the contract void for lack of stamping for purposes of these proceedings; Herd was obliged to tender both the cash and the land transfers on the settlement date (sequential obligations under clause 7.3) and Haines was not required to realise the mortgage over Lot 58 before suing for any s…