31 Mar 2010
LEIGH AND ANOR V THE MACENNOVY TRUST LTD AND ORS HC AK CIV 2009-404-3631
- Citation
- openlaw-97996a10_ead0_489f_9896_045870df1d19.pdf
- Court
- High Court
Clause 25.4 was fair and reasonable and therefore conclusive under s4(1) CRA so contractual claims based on pre-contractual representations were barred; however the vendor's and agent's statements were objectively misleading under s9 FTA, purchasers were actually misled and causation established, and the appropriate remedial exercise under s43 FTA was to vary the contracts retrospectively by reducing each purchase price by NZD 400,000 and order settlement and related directions (settlement date and suspension of interest).