Lock-out contracts
Lock-out contracts
- 1991
- Independent 15/1/91 p26 .
In Walford and others v Miles and another , CA 19 December 1990, it was held that a " lock-out agreement " between vendor and potential purchaser of a business and its premises, under which the vendor undertakes not to negotiate with any third party, is in effect an agreement that the parties will continue to negotiate between themselves, and as such is unenforceable as a contract in English law.
NEGOTIATIONS
VENDOR AND PURCHASER
In Walford and others v Miles and another , CA 19 December 1990, it was held that a " lock-out agreement " between vendor and potential purchaser of a business and its premises, under which the vendor undertakes not to negotiate with any third party, is in effect an agreement that the parties will continue to negotiate between themselves, and as such is unenforceable as a contract in English law.
NEGOTIATIONS
VENDOR AND PURCHASER