000			01621cam a2200265 4500
001			ABS67949
008			040629n2004 000 0 eng u
035			_a(Sirsi) u126616
100			_aBannister, E.
245			_aTwists and turns
260			_c2004
490			_aEstates Gazette _v(0424) 12 June 2004, 140-142(3)
520			_aArticle advises how to keep leases simple, by basing rent review clauses on reality and the actual lease and the subject matter of that lease. At rent review, if there is ambiguity in the drafting of a rent review clause, courts will usually follow the lease rather than take into account what the tenant gets, even if the result makes little commercial sense. This article discusses one aspect of this commercial purpose approach, which is the presumption of reality , where the courts try to ensure that the valuation exercise remains as close to reality, as possible in the lease and its subject matter. Outlines "Canary Wharf Investments v Telegraph Group Ltd" ([2003] EWHC 1575 (Ch), [2003] 46 EG 132, Abs67266) where Canary Wharf tried to apply the presumption of reality and summarises the Judge's review of the natural meaning of open market rent.
590			_aABS
590			_aABS
650			_aPRESUMPTION OF REALITY
650			_aRENT REVIEW CLAUSES
650			_aBRITISH GAS CORPORATION V UNIVERSITIES SUPERANNUATION SCHEME LTD
650			_aBASINGSTOKE AND DEANE BC V HOST GROUP LTD
650			_aBEEGAS NOMINEES LTD V DECCO LTD
650			_aOPEN MARKET RENT
650			_aMARKET CONDITIONS
690			_aLANDLORD AND TENANT-RENT REVIEWS
942			_n0
999			_c117602 _d117602