Aubergine Enterprises Ltd v Lakewood International Ltd
Series: Estates Gazette ; [2001] 39 EG, 141-150(10)Publication details: 2001Subject(s): Summary: ChD 21 February 2001. Buyer (A) entered into a contract with seller (B) to acquire, by assignment, a 125-year lease of a property. The agreement made provision for obtaining the landlords' consent to the proposed assignment. The landlords gave their consent "in principle", but later refused to provide the executed licence because a rent deposit deed and certain assurances had not been given. B contended it was entitled to rescind and recover its deposit, since the landlords' formal consent had not been obtained on time. "Held": The buyer was not entitled to rescind. Once the landlords had given their consent "in principle" this could not be revoked by subsequent letters.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS64599 (Browse shelf(Opens below)) | 1 | Available | 114972-1001 |
ChD 21 February 2001. Buyer (A) entered into a contract with seller (B) to acquire, by assignment, a 125-year lease of a property. The agreement made provision for obtaining the landlords' consent to the proposed assignment. The landlords gave their consent "in principle", but later refused to provide the executed licence because a rent deposit deed and certain assurances had not been given. B contended it was entitled to rescind and recover its deposit, since the landlords' formal consent had not been obtained on time. "Held": The buyer was not entitled to rescind. Once the landlords had given their consent "in principle" this could not be revoked by subsequent letters.