000			01502nab a22002055a 4500
005			20240115134845.0
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008			230115t2024 xxk f | o000 0 eng |
041	0		_aeng
245	0	0	_aIAA Vehicle Services Ltd v HBC Ltd _h[electronic resource]
520			_a[2024] EWHC 1(Ch), 5 January 2024. The High Court held that time was not of the essence for payment of a deposit due when exercising a tenant's option to purchase the landlord's reversion. Specific performance – Lessee’s option to purchase reversion – Option providing that ‘upon valid exercise of the option’ a binding agreement ‘shall come into existence’ – Standard conditions of sale requiring purchaser to pay a deposit of 10% of the purchase price ‘no later than the date of the contract’ – Exercise of option without payment of deposit – Whether purchaser obliged to pay deposit on or before date of exercise of option – Whether time of the essence for payment – Whether non-payment of deposit constituted a repudiation of purchase contract – Whether vendor entitled to treat contract as discharged – Whether purchaser entitled to specific performance
650	0		_aDEPOSITS
650	0		_aIAA VEHICLE SERVICES V HBC
650	0		_aLANDLORD AND TENANT
650	0		_aCOMMERCIAL PROPERTY
651		4	_aUnited Kingdom
690			_aLandlord and tenant _96252
856	4	0	_uhttps://caselaw.nationalarchives.gov.uk/ewhc/ch/2024/1 _zAvailable on caselaw archives
942			_n0 _2ddc
999			_c121769 _d121769