Official Assignee v Johnston - [1974] 1 NZLR 79

Bankruptcy and insolvency — Assets — Purchaser let into possession and improved property — Agreement for sale and purchase lawfully rescinded — Subsequent bankruptcy of purchaser — Official Assignee unsuccessfully claimed costs of improvements from vendor — Insolvency Act 1967, s 55.

Sale of land — Position of parties pending completion — Binding contract with purchaser in possession — Purchaser the owner in equity subject to performing his obligations — Vendor's interest personal estate.