State Insurance Office v Bettany - [1992] 2 NZLR 275

Insurance — Motor vehicle insurance — Indemnity policy — Vehicle apparently in satisfactory condition at time of issue of policy — Existence of latent defect visible only to expert — Vehicle stolen and severely damaged so as to become write-off — Roof structure twisted — Rust revealed — Calculation of indemnity value — Extent to which knowledge of latent defect ought to be attributed to a notional purchaser.