Money v Ven-Lu-Ree Ltd

Money v Ven-Lu-Ree Ltd [1988] 2 NZLR 414, aff'd [1989] 3 NZLR 129 is a cited case in New Zealand regarding the issue of certainty in contract formation.

Both parties were each to appoint an accountant to set the value of the shares.

Unfortunately, there was no mechanism if the accountants could not agree to a valuation, such as an arbitration clause.

The matter ended up in the High Court where the judge said that it was implied that such a matter go to arbitration, and the judge referred this issue to arbitration.

This article relating to case law in New Zealand is a stub.