Option to purchase
Option to purchase
- 1989
- EGCS 1989 40 .
In Briargate Developments Ltd v Newprop Co Ltd , ChD 6 March 1989, it was held that the plaintiffs had transferred to Taylor Woodrow the fruits of the benefit of the option agreement, not the benefit of the agreement. Accordingly the agreement with TW was not a breach of clause 3, and not an attempt to avoid the profit-sharing requirement of clause 17. However, the defendants were not obliged to transfer their interest directly to TW as this could not be required under the terms of the agreement between the parties. The plaintiff`s claim for specific performance of the agreement to complete therefore succeeded.
SHOPPING CENTRES
In Briargate Developments Ltd v Newprop Co Ltd , ChD 6 March 1989, it was held that the plaintiffs had transferred to Taylor Woodrow the fruits of the benefit of the option agreement, not the benefit of the agreement. Accordingly the agreement with TW was not a breach of clause 3, and not an attempt to avoid the profit-sharing requirement of clause 17. However, the defendants were not obliged to transfer their interest directly to TW as this could not be required under the terms of the agreement between the parties. The plaintiff`s claim for specific performance of the agreement to complete therefore succeeded.
SHOPPING CENTRES