(1)
A party who has substantially the same interest under the contract as the party whose act constitutes the repudiation, misrepresentation, or breach may cancel the contract only with the leave of the court.
(2)
The court may, on application made for the purpose, grant leave under subsection (1) if it is satisfied that it is just to do so.
(3)
The leave may be granted on the terms and conditions that the court thinks fit.
Compare: 1979 No 11 s 7(6), (7)