Whether Deed of Assignment binding — surrender by operation of law — liability of guarantors — Property Law Act 2007, ss 9 and 10 — Hamilton Ice Area Ltd v Perry Developments [2002] 1 NZLR 309. The liability of three defendants as guarantors to a lease was determined. The first and second defendants were bound by their personal guarantees under a Deed of Lease which had not been surrendered by operation of law. The defendants could not rely on equitable set-off ("Hamilton Ice Area" considered). Judgment was entered against the first and second defendants for rental and operating expenses under the lease in the sum of $94,657.88. The third defendant was not bound under the Deed of Lease as there was no meeting of the minds in relation to the crucial issue of expiry date, and neither was there an underlying contract which could bind that party to her guarantee. Judgment Date: 02 November 2016.