20 Mar 2019
MCARTHUR & ORS v GUERIN & ANOR [2019] NZHC 500
- Citation
- [2019] NZHC 500
- Court
- High Court
Clause 4.2(2) of the standard REINZ/ADLS sale agreement is compensatory and permits deduction for betterment where a purchaser elects reinstatement that produces an improvement over the pre-damage condition; the District Court's allowance for betterment was within its evaluative judgment and not displaced on appeal; the purchasers remained obliged to settle unless they validly elected cancellation by the contractual settlement date, so penalty interest was payable from that date; leave was granted for the late cross-appeal but the proposed post-judgment EQC evidence was irrelevant to contract…
- Diminution in value
- Betterment
- Penalty interest for late settlement
- Admission of fresh evidence on appeal
- Interpretation of standard form sale agreement
- Estoppel by representation