"GOODWILL" AND "RENT"
POINT FOR APPEAL COURT
Yesterday afternoon and today the Court of Appeal was engaged in hearr ing argument on a legal point arising out of the National Expenditure Adjustment Act, 1932, the Court being asked to decide whether a sum of £3000 paid for the goodwill for a hotel could be deemed to be "rent" as having been paid "by way of premium or bbnns or other like payment" within the meaning of section 29 (3) of the Act. v • . .
The \ Chief Justice (Sir Michael Myers),' Mr. Justice Heed, Mr. Justice Ostler, and Mr. Justice Smith were on the Bench. Mr. C. Weston, of Auckland, appeared for the appellant, Ernest Charles Heel, a settler,' of Auckland, and Mr. J. H. Quilliam, of New for the respondent, Leopold Patrick O'Neill, hotelkeeper, of Inglewood.
The facts of the case upon which the appeal was based were that in 1929 the appellant, Heel, leased tho Eailway Hotel at Inglewood to a Mrs. O'Neill at a .certain rental and the payment of £3000 . for goodwill. Mrs. O'Neill subsequently died, and the lease was transferred to her son, the respondent. When tho National Expenditure Adjustment Act became law the respondent O'Neill notified the lessor of his intention to deduct 20 per cent, from the annual rental and also 20 per cent, from the amount then payable for goodwill from the date the Expenditure Adjustment Act came into force. The ' lessor contested the lessee's right to deduct 20 per cent, from tho goodwill payment, but in an action heard in New Plymouth Mr. Justice MacGregor ■upheld the respondent O'Neill's proposal. Decision was reserved.
Ramsey Wilson and Co will offer for sale superior furniture and pianos at their auction mart, 98 Manners Street, at 1.30 tomorrow. On Saturday they will sell at 3 Espin Crescent, Karon, at 1 p.m., furniture, carpets, Lipp piano, Hudson super 6 motor-car. '
McKenna'a have received instructions from the trustees of a deceased's estate to offer by public _ auction a miscellaneousl catalogue of furniture, antiques, and paintings. These will be offered tomorrow at. 2 p.m., and a detailed list appears in the ♦notion announcements of this paper,
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19330328.2.127
Bibliographic details
Evening Post, Volume CXV, Issue 73, 28 March 1933, Page 9
Word Count
357"GOODWILL" AND "RENT" Evening Post, Volume CXV, Issue 73, 28 March 1933, Page 9
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