MacIndoe v Mainzeal Group Ltd - [1991] 3 NZLR 273

Contract — Sale of land — Stratum freehold estate in building to be erected — Standard form of agreement for sale and purchase of real estate approved by the Real Estate Institute of New Zealand and New Zealand Law Society — Purchase price payable by instalments related to progress of construction — Contractual remedies on default — Whether construction company entitled to cancel contract after making time of the essence and after further default by purchaser — Whether cancellation excluded by contract or provision relating to remedies on default — Contractual Remedies Act 1979, ss 5 and 7.