FARM SALE CONTRACT
Deposit To Be Recovered
A man who could not complete purchase of a farm property in 1959 because he could not raise enough finance recovered his £1250 deposit as a result of a reserved judgment issued by Mr Justice Richmond yesterday. The man is Hubert Henry Eastmond (Mr B. J. McClelland, with him Mr I. White), and the owner of the Doyleston farm property is Leonard David Bowis. Although his Honour's finding on each point was in favour of Eastmond. the action has been adjourned to enable counsel to submit a favourable form of judgment.
His Honour said in his judgment that the words “subject to finance" on the contract of sale, interpreted in the light of the surrounding circumstances, meant subject to the sum of £6OOO being raised on mortgage on the farm property by the purchaser or by the land agent. He was satisfied that Eastmond took all the steps he was reasonably required to do. and was unable to raise the required mortgage. Eastmond could not reasonably have been expected to make further efforts before rescinding the contract. His Honour added that the defence of waiver, in whatever form, had not been established to his sat ixf action.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19620621.2.44
Bibliographic details
Press, Volume CI, Issue 29854, 21 June 1962, Page 7
Word Count
204FARM SALE CONTRACT Press, Volume CI, Issue 29854, 21 June 1962, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in