I Ltd v N Ltd [2022] NZDT 282 (7 November 2022) [pdf, 196 KB]
...was only a ‘holding deposit’ to confirm their interest in the vehicle, and it was not a part payment towards the purchase price. 16. Mr E submitted that Mr I did state that he wanted to buy the vehicle. Acting on this, N Ltd proceeded to service [Truck 1], and obtain a new COF and registration. 17. If the deal had ended at this stage, it would be difficult to see any legal basis for N Ltd to retain any part of the deposit. 18. However, it did not end there. 19. Whe...