25 Sept 2023
STRATTON PROPERTIES LTD v CONSTRUCTION PROPERTIES LTD [2023] NZHC 2666
- Citation
- [2023] NZHC 2666
- Court
- High Court
The court held the first defendant had no arguable defence to liability because the written agreements expressly reserved the vendor's right to alter stages of the development (clause 23.3) and contained exclusionary clauses that, in the commercial context between experienced parties with legal advice, precluded reliance on the alleged pre-contractual representations about Stage 2; consequently cancellation was not legally effective and specific performance was ordered against the first defendant, with leave reserved to pursue remedies against the guarantor if the purchaser fails to perform.