000			01719cab a2200241 4500
001			ABS37525
008			090401t1987 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u5085
041			_aeng
245			_aPower Securities (Manchester) Ltd v Prudential Assurance Co Ltd
260			_c1987
350			_a0
490			_aEstates Gazette _v281(6326) 21 March 1987, 1327-1331(3)
520			_aChD 20 November 1986. Originating summons by which plaintiff tenants sought a declaration in regard to provisions of an unusual form of rent review clause in a lease of a shopping centre . The machinery of the review formula was complicated; the lease provided for a maximum and a minimum figure of 275,000 and 225,000 for total income receivable for the premises in case of default. At issue was whether time was of the essence regarding a requirement that a component part of the review formula should be agreed by a named date. The component part being the total income receivable and a figure which was essential to the calculation of the reviewed rent. The landlords contended that no agreement as to the amount of the total income receivable having been concluded by 25 June 1982, it must be taken to be 225,000. The tenants argued that time was not of the essence, nor has time since been been made of the essence of that date by notice served by either party. Accordingly it is still open t
650			_aMANCHESTER
650			_aPOWER SECURITIES (MANCHESTER) LTD V PRUDENTIAL ASSURANCE CO LTD
650			_aROYAL EXCHANGE
650			_aTIME OF THE ESSENCE
650			_aUNITED SCIENTIFIC HOLDINGS LTD V BURNLEY BC
690			_aLANDLORD AND TENANT-RENT REVIEWS-CASE LAW
942			_n0
948			_c04/03/1997
999			_c3049 _d3049