BN & SC & XC v NT & MP [2021] NZDT 1670 (30 June 2021) [pdf, 236 KB]
...his conversation with MP. That conversation involved an exchange of valuable consideration – XC granted accommodation to NT’s client, and NT granted security for the tenant’s obligation to pay rent. 16. My finding is that a contract was formed between XC (as trustee of the Trust) and NT. 17. However, the contract that was formed was a contract of guarantee. NT agreed to “answer to another person for the debt, default, or liability of a third person” (section 27(4) Propert...