Signal v Kay-Stratton - [1955] NZLR 1025

Vendor and Purchaser — Statutory Tenant of Shop and Dwelling carrying on Grocery Business — Offer by Letter to sell Business and Goodwill to Landlord — Landlord paying Deposit on Purchase in Terms of Letter — Such Payment treated as Acceptance of Offer — Contract repudiated by Purchaser — Contract not Conditional as Subject to Completion of Formal Document — As Vendor without Interest in Land Occupied, Contract not affected by Statute of Frauds — Enforceable Contract between Parties — Specific Performance refused — Declaration that Vendor no longer bound to perform Contract — Order for Forfeiture of Deposit, and Damages, — Statute of Frauds, 1677 (29 Car 2, c 3), s 4 — Sale of Goods Act, 1908, s 53.