Jessett Properties Ltd v UDC Finance Ltd - [1992] 1 NZLR 138

Property law — Lease — Property leased to lessee — Lease subject to unregistered mortgage of lease — Lessor defaulted on its mortgage — Property sold to first appellant — Second appellant leased property to first appellant — Appeal from grant of interim injunction in favour of respondent restraining first and second appellants from disposing of, dealing with, or further encumbering the property — Allegations of fraud — Whether serious question to be tried — Land Transfer Act 1952, ss 62, 108 and 182 - Property Law Act 1952, ss 117 and 118.

Agency — Relationship with principal — Agent with knowledge of mortgagee's interest in property negotiating on behalf of new company to purchase property — Potential effect of defeating mortgagee's interest — Whether agent's knowledge to be imputed to principal — Whether principal thereby affected by the agent's fraud — Land Transfer Act 1952, ss 62 and 182.