20 Apr 2020
LONG CAPITAL HOLDINGS NZ LIMITED v JACKS POINT VILLAGE HOLDINGS NO 2 LIMITED [2020] NZCA 102
- Citation
- [2020] NZCA 102
- Court
- Court of Appeal
LCH had prepared but refused to submit the Development Plan; under express contractual terms (cls 10.8(2) and 42.1) it was obliged to take all reasonably necessary steps to enable fulfilment of the Development Plan condition, and its failure to submit was its default which disentitled it to cancel; an implied term that the Development Plan must be economically viable could not be read into the contract as it conflicted with express terms; summary judgment dismissing the purchaser's claim and upholding vendor's claim for release of deposits under cl 26.1(b)(i) was appropriate.