Alchemy Estates Ltd v Astor [electronic resource]
Alchemy Estates Ltd v Astor [electronic resource]
- 2008
[2008] EWHC 2675 (Ch), 5 November 2008. The right in the Standard Conditions of Sale (fourth edition) to rescind a contract for the sale of leasehold land if consent to assignment of the lease had not been obtained three working days before the completion date had to be exercised by that date, or soon after. Applicants (A) applied for summary judgement in a matter with company (E) on the sale of leasehold land where contracts had been exchanged and a completion date fixed. The contract held the Standard Conditions of Sale (fourth edition), that said that the seller had to obtain the permission of the landlord (or to prove that all reasonable attempts to obtain it had been made). Completion was delayed slightly as A failed to obtain the landlord's permission, partially as a result of providing incorrect documents. E continued to express an interest in the purchase but made a greatly reduced offer for it some months later. Held: Application granted. Where standard and special conditions had been used, there was no indication that the standard conditions had been displaced and where possible, they should be viewed as one contractual scheme. The word 'required' in relation to obtaining the landlord's consent was a practical term and was not binding. Where the right of recission was not exercised promptly, both parties had to be taken as having decided to proceed with the allocation of risk set out in the contract. E had not given warning of an intention to rescind and its actions throughout indicated that it would complete the sale.
Advanced
ALCHEMY ESTATES LTD V ASTOR
AQUIS ESTATES LTD V MINTON
LEASEHOLD REFORM ACT 1967
HOMBURG HOUTIMPORT BV V AGROSIN PRIVATE LTD (THE STARSIN)
ICI CHEMICALS & POLYMERS LTD V TT TRAINING LTD
PROPERTY & BLOODSTOCK LTD V EMERTON
QUINION V HORNE
SELKIRK V ROMAR INVESTMENTS LTD
SMITH V WALLACE
ST LEONARD'S SHOREDITCH RECTORY V HUGHES
AUBERGINE ENTERPRISES LTD V LAKEWOOD INTERNATIONAL LTD
BOWMAN V HYLAND
BRICKWOODS LTD V BUTLER & ANOR
England and Wales--1543-
[2008] EWHC 2675 (Ch), 5 November 2008. The right in the Standard Conditions of Sale (fourth edition) to rescind a contract for the sale of leasehold land if consent to assignment of the lease had not been obtained three working days before the completion date had to be exercised by that date, or soon after. Applicants (A) applied for summary judgement in a matter with company (E) on the sale of leasehold land where contracts had been exchanged and a completion date fixed. The contract held the Standard Conditions of Sale (fourth edition), that said that the seller had to obtain the permission of the landlord (or to prove that all reasonable attempts to obtain it had been made). Completion was delayed slightly as A failed to obtain the landlord's permission, partially as a result of providing incorrect documents. E continued to express an interest in the purchase but made a greatly reduced offer for it some months later. Held: Application granted. Where standard and special conditions had been used, there was no indication that the standard conditions had been displaced and where possible, they should be viewed as one contractual scheme. The word 'required' in relation to obtaining the landlord's consent was a practical term and was not binding. Where the right of recission was not exercised promptly, both parties had to be taken as having decided to proceed with the allocation of risk set out in the contract. E had not given warning of an intention to rescind and its actions throughout indicated that it would complete the sale.
Advanced
ALCHEMY ESTATES LTD V ASTOR
AQUIS ESTATES LTD V MINTON
LEASEHOLD REFORM ACT 1967
HOMBURG HOUTIMPORT BV V AGROSIN PRIVATE LTD (THE STARSIN)
ICI CHEMICALS & POLYMERS LTD V TT TRAINING LTD
PROPERTY & BLOODSTOCK LTD V EMERTON
QUINION V HORNE
SELKIRK V ROMAR INVESTMENTS LTD
SMITH V WALLACE
ST LEONARD'S SHOREDITCH RECTORY V HUGHES
AUBERGINE ENTERPRISES LTD V LAKEWOOD INTERNATIONAL LTD
BOWMAN V HYLAND
BRICKWOODS LTD V BUTLER & ANOR
England and Wales--1543-