Late payment of rent
Late payment of rent
- 2001
- Estates Gazette (0103) 20 January 2001, 129(1) .
In a recent case, the High Court has ruled that late payment of rent can serve to deprive a tenant of its option to break its lease. Where payment of rent by a posted cheque is requested, payment occurs on the date of posting. However the late payment of rent can be considered a material breach that deprives the tenant of its option to break.
COMMERCIAL UNION LIFE ASSURANCE CO LTD V LABEL INK LTD
LATE PAYMENT
MATERIAL BREACH
COMMERCIAL LEASES
BREAK OPTIONS
In a recent case, the High Court has ruled that late payment of rent can serve to deprive a tenant of its option to break its lease. Where payment of rent by a posted cheque is requested, payment occurs on the date of posting. However the late payment of rent can be considered a material breach that deprives the tenant of its option to break.
COMMERCIAL UNION LIFE ASSURANCE CO LTD V LABEL INK LTD
LATE PAYMENT
MATERIAL BREACH
COMMERCIAL LEASES
BREAK OPTIONS