Hickman v Turn and Wave Ltd - [2011] 3 NZLR 318

Contract — Cancellation — Purchase of apartments from vendors financed by finance company — Whether knowledge of sales agents could be imputed to developers — Whether basis for promissory estoppel — Whether implied term in sale and purchase agreements — Whether sale and purchase agreements interdependent from investment agreements.

Securities — Securities Act 1978 — Whether investment agreements constituted equity securities — Whether investment agreements constituted debt securities — Whether investment agreements exempted from operation of Act — Whether sale and purchase agreements tainted by illegality of investment agreements — “Security” — “Debt security” — “Equity security” — Securities Act 1978, ss 2 and 5.