Visionhire Ltd v Britel Fund Trustees Ltd
Visionhire Ltd v Britel Fund Trustees Ltd
- 1992
- Estates Gazette 1992 10 EG 95-102(5) .
Court of Session: Inner House 25 July 1991. Dispute over the meaning and effect of a rent review clause in a shop lease. Pursuers and respondents (V) held the term of the lease and defenders and reclaimers (B) held the reversion to the lease. Case concerned the provisions for initiating rent review including appointment of an arbiter or an expert valuer. The application for a nomination may be made not more than six months before or at any time after the relevant rent review dates. the lease provided that if by the first date for payment of rent for the relevant five-year period the lessors had not made an application for a nomination, the lessee may at any time thereafter state by notice the amount of such revised rent for the relevant period; unless the lessors made an application within three months after the date of such notice. The relevant rent review date was 1 August 1988. Parties had not agreed a revised rent. By a letter dated 29 July 1988, the lessors gave notice that rent
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Court of Session: Inner House 25 July 1991. Dispute over the meaning and effect of a rent review clause in a shop lease. Pursuers and respondents (V) held the term of the lease and defenders and reclaimers (B) held the reversion to the lease. Case concerned the provisions for initiating rent review including appointment of an arbiter or an expert valuer. The application for a nomination may be made not more than six months before or at any time after the relevant rent review dates. the lease provided that if by the first date for payment of rent for the relevant five-year period the lessors had not made an application for a nomination, the lessee may at any time thereafter state by notice the amount of such revised rent for the relevant period; unless the lessors made an application within three months after the date of such notice. The relevant rent review date was 1 August 1988. Parties had not agreed a revised rent. By a letter dated 29 July 1988, the lessors gave notice that rent
CONSTRUCTION OF CLAUSE
RENT REVIEWS
SCOTLAND
TIME LIMITS
TIME OF THE ESSENCE