Turner v Superannuation & Mutual Savings Ltd - [1987] 1 NZLR 218

Contract — Sale of land — Deposit — Purchaser failed to complete purchase of land — Vendor forfeited deposit of $60,000 (deposit was 5.5. per cent of the purchase price) — Whether forfeiture was equitable and a penalty — Whether purchaser was entitled to a return of the deposit.

Damages — Breach of contract — Failure to settle purchase of land — Innocent vendor did not resell property — Substantial increase in value of property between date of breach and date of hearing — Whether damages for breach of contract should be assessed at date of breach of hearing — Whether vendor had failed to mitigate.