The optional extras
Murdoch, Sandi
The optional extras - 2005 - Estates Gazette (0510) 12 March 2005, 153(1) .
Discusses the unexpected consequences of options in leases, as shown by two recent cases. In "BP Oil UK Ltd v Lloyds TSB Bank plc" ([2004] EWCA Civ 1710; [2205] 10 EG 156 (Abs68748)) the dispute involved the interpretation of a put option agreement and whether the appellants could force the respondent to take back the lease of the premises. "Harbour Estates Ltd v HSBC Bank plc" ([2004] EWHC 1714; [2004] 32 EG 62 (CS)) (Abs68746) considered whether an assignee of a lease could exercise a tenant's right to break. The options in both cases were not standard as each provision was tailored to meet the special commercial requirements of the parties.
BP OIL UK LTD AND OTHERS V LLOYDS TSB BANK PLC
HARBOUR ESTATES LTD V HSBC BANK PLC
The optional extras - 2005 - Estates Gazette (0510) 12 March 2005, 153(1) .
Discusses the unexpected consequences of options in leases, as shown by two recent cases. In "BP Oil UK Ltd v Lloyds TSB Bank plc" ([2004] EWCA Civ 1710; [2205] 10 EG 156 (Abs68748)) the dispute involved the interpretation of a put option agreement and whether the appellants could force the respondent to take back the lease of the premises. "Harbour Estates Ltd v HSBC Bank plc" ([2004] EWHC 1714; [2004] 32 EG 62 (CS)) (Abs68746) considered whether an assignee of a lease could exercise a tenant's right to break. The options in both cases were not standard as each provision was tailored to meet the special commercial requirements of the parties.
BP OIL UK LTD AND OTHERS V LLOYDS TSB BANK PLC
HARBOUR ESTATES LTD V HSBC BANK PLC