|
Boat Park Ltd v Hutchinson () 2 NZLR 74 is a cited case in New Zealand regarding what evidence is admissible when considering the express terms of a contract. It follows the English case of the Investors Compensation Scheme. ==Background== Boat Park purchased a Whangarei property from Hutchinson for $1,050,000, with Hutchinson agreeing to provide vendor finance of up to 75 percent of "a registered valuer's valuation of the property". However, when it came to settlement, Boat Park supplied a valuation report that gave a valuation of $3.5 million, more than triple the purchase price, which if accepted, would have effectively meant vendor finance of 100%. The valuation was based not on the current market value of the property, but on the estimated value after it had been subdivided and developed, but this valuation made no account for any risk for such matters if the council consents were not approved or that the sections did not sell. Hutchinson refused to accept this valuation as a fair market value, and initially refused to settle, but reluctantly agreed to settle, and later successfully referred the dispute to the High Court. Boat Park appealed the High Court judgment. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Boat Park Ltd v Hutchinson」の詳細全文を読む スポンサード リンク
|