Part I of the Leasehold Reform Act 1967 (LRA 1967) (LRA 1967, s 1) provides the right to tenants of leasehold houses to acquire on fair terms the freehold or an extended lease of the house and premises, in certain circumstances set out in section 1 thereof. The right is governed by LRA 1967, s 5, which provides that a tenant with the right to acquire the freehold or an extended lease shall give notice of their desire to have it and by LRA 1967, s 8, where a tenant gives written notice of the desire to have the freehold, the landlord shall be bound to make, and the tenant shall be bound to accept, at the price and on the conditions