Tweedie v Fear - [1982] 2 NZLR 388

Contract — Sale of land — Rescission — Validity of notice making time of the essence — Agreement between vendor and purchaser provided that if a default by the purchaser continued for 14 days the vendor was entitled to rescind — Before settlement purchaser resold the property — Sale to subpurchaser was cancelled when subpurchaser failed to pay the deposit — Subpurchaser refused to accept the cancellation and lodged a caveat — Settlement was not effected on due date and two days later vendor served notice making time of the essence — Whether purchaser was entitled to insist that settlement could not take place until caveat had been removed by vendor — Whether vendor's notice was valid — Whether contract had expressly provided a remedy thereby excluding the Contractual Remedies Act 1979.