Parry v Grace - [1981] 2 NZLR 273

Injunction — Interim injunction to restrain exercise of mortgagee's powers — Vendor of land took mortgage back for part of purchase price — Settlement effected before condition in contract of sale performed — Purchaser claimed vendor in breach of contract and stopped mortgage payments — Purchaser sought interim injunction to restrain exercise of mortgagee's powers pending trial of action for breach of contract — Purchaser claimed equitable set-off — Whether purchaser required to pay into Court amount secured by mortgage.