000			01432cab a2200181 4500
001			ABS40875
008			090401t1989 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u26623
041			_aeng
245			_aMiller v Lakefield Estates Ltd
260			_c1989
350			_a0
490			_aEstates Gazette _v(1989) 19 EG 67-70(3)
520			_aCA 27 April 1988. Appeal by property company (L) from decision ordering the sale of a freehold property jointly owned by the two parties, M and L. The parties had entered into a joint venture agreement to develop the property. A clause in the agreement enabled either party to sell his interest in the property, by giving notice to the other side who had the option to purchase the share within six months at an agreed price. There was no mention as to whether the price was to be a market price or a reasonable price. If no sale took place within six months, the property was to be sold at auction and the net proceeds divided equally between M and L. Another clause provided for arbitration . After disagreements, M informed L that he wished to sell his half. L rejected the asking price. No sale took place within six months. M successfully applied to court for an order of sale. L appealed to CA, submitting that a term should be implied that the sale should be at a market or a reasonable pric
690			_aPROPERTY LAW AND PRACTICE-CASE LAW
942			_n0
948			_c04/03/1997
999			_c17908 _d17908