11 Jul 2012
ROBERT ARTHUR BELL V BDO SPICERS MANAWATU LIMITED HC WN CIV-2012-485-166
- Citation
- openlaw-185179f8_e616_449c_8412_4ebedbbe8f2d.pdf
- Court
- High Court
The court held that the parties, by their post-settlement conduct, mutually waived the contractual requirement that additional services be agreed in writing, creating an enforceable oral agreement for the additional work; therefore appellant was liable for the disputed invoices subject to admitted credits; however the contractual interest provision of 2% per month compounded was penal and was reduced to a fair rate of 15% per annum and respondent directed to recalculate interest and file corrected figures before sealing.