- Keeping your options open: construction and rectification of the termination provisions in a property option (Retirement Villages Developments Ltd v Punch Partnership (PTL) Ltd)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Property analysis: The court construed the provisions of an option to acquire a valuable site in Elstree, Hertfordshire. The option had been granted in 2013 for an initial 30-month period, subject to extension, and the issue was whether that extension applied. The court held it did, notwithstanding the owner’s arguments that that was commercially absurd, in a decision which reinforces the primary importance of textual analysis in contractual construction. A claim by the owner for rectification was also dismissed. Written by James McCreath, barrister at Wilberforce Chambers, counsel for the developer.
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