Commodore Pty Ltd v Perpetual Trustees Estate & Agency Co of New Zealand Ltd - [1984] 1 NZLR 324

Property law — Mortgage — Guarantee — Requirements as to notice in s 92 of the Property Law Act 1952 - Mortgagor defaulted in payment of interest — Mortgagee required default to be remedied otherwise it would exercise its power of sale but did not call up payment of principal — When default not remedied mortgagee demanded payment of interest and principal from guarantors only — Property sold at mortgagee's sale and guarantors were sued for deficit — Guarantors denied liability — Whether guarantors were liable.

Practice and procedure — Statement of claim — Mortgagee sued guarantors for principal and overdue interest — At date of issue of writ no principal moneys were due and owing but they were due by date of Court hearing — Whether judgment could be entered for mortgagee for the deficit after sale of mortgaged property — Modern approach to pleadings discussed.