TAUWHAREPARAE LEASES.
JUDGMENT OF SUPREME COURT.
The solicitors of the Gisborne Harbor Board (Messrs Chrisp :> and Colejnan) yesterdav received advice that judgment had been received by the Registrar in the case of the TaUwhareparae l0 The Court holds: - ■ 1. That the lessee is obliged to elect, -before the determination of rental for a. renewal term, - v .. . 2 The* rental, should be fixed on the basis that the improvements do not become tKe:3dard’s property-/unR/bhe end of the renewed; term, arid arbitra-,. tors should, determine what would be a fair rent for:; th'evland without the improvements made -by. bhe .lessees, an . the. arbitrators. may * if. they,- think proper' adopt tho method specified infection 151 of the Land Act, 1880, namely, taking 5 per cent, on the value of the land, less improvements effected bj the lessees, , . ~ ~ , 3 The lease does not give the right of perpetual renewal, but only one renewal in any event,. ■ , , Clause 4 of the judgment deals w.th machinery- only. ' / , , : ~ ■ v
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Gisborne Times, Volume XXVII, Issue 2669, 26 November 1909, Page 5
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162TAUWHAREPARAE LEASES. Gisborne Times, Volume XXVII, Issue 2669, 26 November 1909, Page 5
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