Casey v Commissioner of Inland Revenue - [1959] NZLR 1052

Revenue — Gift duty — Wife's Loans to Husband — Moneys Lent £875) to be repaid by Husband with Interest when He was in position to do So — On Sale of Farm, Thirty-six Years later, Husband paying, and Wife accepting, £5,000 in Repayment including Interest at Unspecified Rate — Husband's Precedent Debt Consideration for Payment to Wife — Payment of Statute-barred Debt not Voluntary Satisfaction of Unenforceable Obligation — Test to be applied to find whether Consideration for Interest Payment "adequate" — Payment of Loans and Interest a "disposition" by Husband — "Consideration in money or money's-worth" given to Extent of Stated Loans with Simple Interest thereon — Estate and Gift Duties Act 1955, ss. 41, 42 (1) (d).