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The Court of Appeal upheld a trial judgment finding a commercial tenant liable for breaching a binding Offer to Lease and affirming a 12% prejudgment interest rate.
The appellant challenged a trial judgment awarding damages for breach of an Offer to Lease.
The appellant moved into the respondent's rental property but vacated after three weeks, claiming either no contract existed or the respondent had fundamentally breached it.
The trial judge found a binding agreement existed, rejected claims of fundamental breach, and awarded damages of $233,146.30 with 12% annual interest compounded monthly.
The Court of Appeal dismissed the appeal, upholding the trial judge's findings on liability and the discretionary award of interest.
