Reporoa Stores Limited v Treloar - [1956] NZLR 359

Landlord and Tenant — Option to Purchase — Provision for Payment of Purchase-money on Expiration of Notice of Intention to exercise Option — Lessee giving Notice and adding "settlement will be effected on or before" a Certain Date — Lessee thus fixing His Own Time for Completion — Imposition of New Term with-out Lessor's Consent — Notice of Intention to exercise Option invalid.

Estoppel — Lessee giving Notice of Intention to exercise Option — Lessor merely acknow ledging Receipt of Same — Notice invalid — Lessor not estopped from denying Validity of Notice.

Property Law — Relief from Forfeiture — Option to Purchase — Refusal to transfer Land in Terms of Option to purchase — Application for Relief made after Three Months from Refusal of Transfer — Application out of Time — Property Law Act 1952, ss 120, 121.