6 Sept 2011
HICKMAN AND ORS v TURN AND WAVE LIMITED SC 46/2011
- Citation
- SC 46/2011
- Court
- Supreme Court
The Court granted leave to appeal on three discrete questions concerning whether the Blue Chip marketing constituted public offers under s37, whether the s5(1)(b) exemption applies, and whether a favourable finding would prevent developers enforcing sale and purchase agreements as void or illegal; the Court refused leave on the proposed independent agency/preclusion ground and refused the Herricks' amendment to raise non est factum, mistake and fraud defences because those arguments were not pleaded in earlier courts and granting leave would prejudice respondents.
- Offer to the public
- Securities act 1978 s37
- Exemption s5(1)(b)
- Enforceability of sale and purchase agreements
- Non est factum
- Mistake