Aspiring Law Aspiring Law

14 Jun 2012

Can a buyer sue for a breach of warranty when the buyer has not carried out a proper due diligence?

A recent High Court case looked at the question of whether buyers under a purchase agreement can sue for damages for a breach of warranty by the sellers when the buyers had not carried out a proper due diligence under a due diligence condition, and where proper due diligence would have exposed the error in the warranty. Read more ›
19 Apr 2012

Due Diligence Conditions – What Are The Buyer's Obligations?

Buyers are generally required to use reasonable efforts to satisfy any condition in a sale and purchase agreement which is included for the benefit of the buyer. Some buyers include a ‘due diligence’ condition in an agreement in the belief that this will give them a right to cancel the agreement for any reason whatsoever. Read more ›
13 Feb 2012

Crafar Farms Decision: Court Orders New Test to be Used for Applications to Buy Farmland

The High Court has ordered the Minister of Finance and the Minister of Land Information to reconsider their decision to approve the purchase of the 16 Crafar farms by Milk New Zealand Holdings Limited by using a different test. Read more ›
01 Nov 2011

​The Difference Between Best Endeavours and Reasonable Endeavours Clauses

When a party to an agreement for sale and purchase doesn’t want to be under an absolute obligation to have to do something, it is usual to add a clause which requires a party to use “best endeavours” or “reasonable endeavours” to do that thing. But what do those phrases mean? Read more ›