24 Nov 2020
ERNI v BROOKY [2020] NZHC 3116
- Citation
- [2020] NZHC 3116
- Court
- High Court
On the evidence the advances were loans on the oral terms found by the Court: (a) house loan $309,536 advanced, interest-free, repayable at $250 per week; defendant breached by ceasing payments and entire balance became payable on demand; (b) truck loan advances aggregated and formed a loan of principal $280,000 with agreed 5% p.a. interest and $1,200 monthly payments and review after two years. Defendant failed to prove gifts, failed to discharge presumption of advancement, and estoppel defence failed. Judgment entered for plaintiffs with specified sums and interest.