New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Promissory note as payment

Legal area

Court

16 Feb 2023

DUNSTAN v BANK OF NEW ZEALAND [2023] NZHC 200

Citation

[2023] NZHC 200
Court

High Court

The claim was struck out because posting a promissory note by a stranger, without the bank's acceptance and without adoption by the debtors (the trustees), does not discharge the debt; BNZ expressly rejected the note and there is no evidence of trustees' adoption, so the plaintiff's claim disclosed no arguable cause of action.
10 Apr 2019

MARUNUI v THE CO-OPERATIVE BANK LTD [2019] NZHC 765

Citation

[2019] NZHC 765
Court

High Court

The promissory note relied on by the applicants did not constitute payment or legal tender and did not meet the bank's demand for immediate repayment; the applicants failed to show a good arguable case or that the balance of convenience favoured injunctive relief, and the claim based solely on the ineffective document was an abuse of process warranting strike out.