Air New Zealand Ltd v Nippon Credit Bank Ltd - [1997] 1 NZLR 218

Contract — Interpretation — Aeroplane lease — Whether lessor's obligation to make payment "upon re-delivery" of the aeroplane — Meaning of "upon re-delivery" — Whether obligation arose before, after or simultaneously with re-delivery.

Evidence — Admissibility — Extrinsic evidence — Resolution of ambiguity by reference to parties' common assumption as to effect of the contract or meaning of word in it — Standard of proof required in resort to extrinsic evidence.

Contract — Interpretation — Aeroplane lease — Lessee not in default of obligation to re-deliver — Whether obligation to pay rent after expiry of aeroplane lease arose — Final inspection not having taken place — Notice of option to extend the lease not having been given.