Hickman v Turn and Wave Ltd - [2013] 1 NZLR 741

Contract — Illegal contract — Doctrine of tainting — Knowledge — Constructive knowledge — Observation. — Illegal Contracts Act 1970.

Practice and procedure — Appeals — New issue raised at late stage — Whether caused prejudice to any party — Nature of prejudice.

Securities — Securities Act 1978 — Meanings of “security”, “debt security”, “consideration”, “issuer”, “otherwise owing”, “subscribe” and “equity security” — Whether transactions “in respect of estate or interest in land” — Whether security could have more than one issuer — Whether issuer, offeror and alloter had to be same party — Whether knowledge to be attributed to party — Securities Act 1978, ss 5, 33, 37 and 37AL.