Kumandan v REAA & Paul [2012] NZREADT 15 [pdf, 206 KB]
...On 10 June 2009 Great North Road Investments entered into an agreement to sell this property to Desray Riedel for $580,000 with a $12,000 deposit payable upon the agreement being declared unconditional. This agreement was somewhat unusual in that Clause 9.4 (a clause that gives the vendor remedies to cancel or sue if the agreement does not settle) had been crossed out and initialled. The deposit was paid to Mr Kumandan, who took his commission. [18] On 22 June Mr Kumandan on-sold the...