Rick Dees Ltd v Larsen - [2006] 2 NZLR 765

Property law — Vendor and purchaser — Payment by bank cheque specified by vendor — Purchaser paid by electronic transfer — Whether purchaser entitled to specific performance — Whether vendor validly cancelled agreements.

Bankers and banking — Electronic transfer of funds — Whether form of cleared funds — Whether impliedly good tender for amount transferred.

Contract — Accord and satisfaction — Whether payment by electronic funds transfer available, given stipulation of settlement by bank cheque — Whether settlement complete upon lodgment of the funds or notification by facsimile also required — If notification by facsimile required, whether notice complete when transmission attempted or when facsimile received — Contractual Remedies Act 1979, s 7.