30 Sept 2011
WAKAPUA FARMS LIMITED V TAYLOR AND OTHERS HC PMN CIV-2011-454-272
- Citation
- openlaw-fa0e61c0_fa49_4c1c_8d46_385df12b96e0.pdf
- Court
- High Court
The High Court held that the contract did not require the transfer of peak notes with the Fonterra shares for no additional consideration. The written terms (clauses 23 and 24), when read with the factual matrix, did not refer to peak notes (which were not shares), and the novelty, complexity and confusion surrounding peak notes meant a reasonable informed observer would not infer their inclusion. Commercial commonsense did not require a contrary conclusion. The appellant's appeal was dismissed.