Property Ventures Investments Ltd v Regalwood Holdings Ltd - [2010] 3 NZLR 231

Property law — Sale and purchase — Standard form — Meaning and extent of “misdescription” — REI/ADLS standard terms for sale and purchase of real estate, cl 5.4 — Whether and when abatement available — Whether and when equitable set-off available — Whether claim for set-off had to be particularised — Whether vendor refusing to accept set-off ready, willing and able to settle — Whether and when settlement notice could stipulate time shorter than provided for in contract.

Equity — Set-off — Whether and when available to purchaser of land against vendor — Whether and when purchaser required to settle in full notwithstanding cross-claim — REI/ADLS standard terms for sale and purchase of real estate, cl 6.5 — Whether claim for set-off had to be particularised.