Multiplex Industries Limited v Speer and Others - [1966] NZLR 122

Company law — Take-over offers — Oral invitation made to shareholders to sell their shares under a take-over scheme — Whether a "take-over offer" — Whether take-over offer required to be in writing — Invitation accompanied by form of option prepared by prospective purchaser — Whether constituting a written offer or invitation to make an offer — Proposed terms of sale containing condition precedent — Purchaser acknowledging that such condition fulfilled — Vendor accepting and acting on such acknowledgment — Whether vendor may later plead non-fulfilment of condition — Companies Amendment Act 1963, ss. 2, 4, 12, 13.

Contract — Formation of contract — Offer accepted subject to condition precedent — Offeree later acknowledging fulfilment of condition — Offeror accepting and acting on such acknowledgment — Whether he may later plead non-fulfilment of condition.