24 Jun 2009
DBCL DEVELOPMENTS LIMITED V NEW SEASON INVESTMENTS LIMITED HC AK CIV 2008-404-006058
- Citation
- openlaw-d4258f53_938d_4054_ba90_55d2ab97069f.pdf
- Court
- High Court
Clause 8.6 incorporated s225(2)(b) RMA into the contract and that statutory provision defines the express time frame (the later of two years from grant of resource consent or one year from the agreement) within which the purchaser may rescind for lack of reasonable progress or deposit; accordingly New Season's 3 July 2008 notice making time of the essence and subsequent cancellation were premature and invalid and New Season had no arguable defence to DBCL's claim, entitling DBCL to summary judgment for damages.