25 Jun 2015
THE OFFICIAL ASSIGNEE v KINGSTON DEVELOPMENTS GROUP LIMITED [2015] NZHC 1416
- Citation
- (2015) 16 NZCPR 572
- Court
- High Court
Objectively tender would not have been futile: there was time and practical means to effect settlement by electronic transfer or by use of bank cheques and a temporary force limit on the vendor's solicitor trust account; the Official Assignee failed to prove that Kingston or its solicitor made tender clearly futile, therefore Kingston validly cancelled the option and did not repudiate the contract.