Pitt v PHH Asset Management Ltd
Pitt v PHH Asset Management Ltd
- 1993
- New Law Journal 143(6613) 13 August 1993, 1187-118 .
CA 29 June 1993. P, acting as the undisclosed agent on behalf of owners of a house, placed a property on the market at £250,000. X and another party B were both interested in purchasing it and made various offers over a period of a few weeks each bettering the last. X`s final offer was £200,000 which B matched but it was X`s offer which was accepted subject to contract. Shortly after B increased their offer to £210,000 and X`s acceptance was withdrawn. An oral agreement was reached with X, confirmed by letter, that the vendor would not consider any further offers on the property on the basis that X would exchange contracts within two weeks of receipt of the contract and the old £200,00 offer was reinstated. X indicated that he was ready to exchange contracts immediately but the same day P wrote to X`s solicitors expressing their intention to accept B`s offer of £210.000. X sued P for breach of agreement. It was held that X and P had entered into a contractual relationship and gave ju
BREACH OF CONTRACT
GAZUMPING
LOCK-OUT AGREEMENTS
PROPERTY SALES
SALE AGREEMENT
VENDOR AND PURCHASER
CA 29 June 1993. P, acting as the undisclosed agent on behalf of owners of a house, placed a property on the market at £250,000. X and another party B were both interested in purchasing it and made various offers over a period of a few weeks each bettering the last. X`s final offer was £200,000 which B matched but it was X`s offer which was accepted subject to contract. Shortly after B increased their offer to £210,000 and X`s acceptance was withdrawn. An oral agreement was reached with X, confirmed by letter, that the vendor would not consider any further offers on the property on the basis that X would exchange contracts within two weeks of receipt of the contract and the old £200,00 offer was reinstated. X indicated that he was ready to exchange contracts immediately but the same day P wrote to X`s solicitors expressing their intention to accept B`s offer of £210.000. X sued P for breach of agreement. It was held that X and P had entered into a contractual relationship and gave ju
BREACH OF CONTRACT
GAZUMPING
LOCK-OUT AGREEMENTS
PROPERTY SALES
SALE AGREEMENT
VENDOR AND PURCHASER