For the purposes of this Q&A, we have assumed that the tenant exercised an option to renew requiring the landlord to grant a new lease on expiry of the lease. Options to renew generally A contractual option to take a lease for a further term is a ‘call’ option. It confers a unilateral right on the tenant to call for a renewal lease (often subject to conditions precedent such as all rents being paid up to date and the tenant not being in material breach of covenant). There is no obligation on the tenant to exercise their right, but if they do, the landlord is bound to perform their part of the bargain. A call option is a contract for the sale of land within section

The date set out in the building contract (usually in the contract particulars/contract data) for the completion of the works by the contractor—ie when the works are required to achieve practical completion by. The date for completion might be adjusted during the project, for example if the contractor is awarded an extension of time. If the works are not completed by the date for completion, the contractor will be liable to the employer for liquidated damages (if these are specified in the contract) or otherwise general damages for late completion (for breach of contract).

A form of contract in which the contractor is paid all of his allowable expenses plus profit.

The period of a regular premium contract over which the initial commission is deemed to be earned.

A bar to the enforcement of an otherwise enforceable contract as the courts cannot compel one party to complete an immoral or illegal act even if that act would not have been illegal at the time of contracting.

This Practice Note explains one of the key ways a lender can transfer a loan under English law to another lender by assignment. The other key ways are: • novation—see Practice Note: Transferring a loan by novation, and • sub-participation or risk–participation—see Practice Note: Selling a loan by sub-participation A loan (which is a debt) is a chose in action. A chose in action is something which is recoverable by legal action (as opposed to something which is physically possessed). As a basic principle, choses in action cannot be assigned at common law. Assignments of choses in action are therefore either: • statutory—often referred to as 'legal' assignments because they have an equivalent effect to legal assignments, or • equitable Under English law, an assignment is a transfer of rights; it does not transfer obligations (in contrast to a novation—see Practice Note: Transferring a loan by novation). This Practice Note discusses: • requirements for a legal assignment • how legal assignments differ from equitable assignments • the advantages and disadvantages of assignments

The Landlord and Tenant Act 1954 (LTA 1954) governs the relationship between the vast majority of landlords and tenants of business premises; the rights and obligations afforded by the 1954 Act supplement those set out in the terms and conditions of any lease. The LTA 1954 applies to: 'any tenancy where the property comprised in the tenancy is or includes premises which are occupied by the tenant and are so occupied for the purposes of a business carried on by him for those and other purposes'. There are a number of elements which turn to be considered in the

This week's edition of Property weekly highlights includes: a Court of Appeal case on boundary disputes, analysis of the Terrorism (Protection of Premises) Act 2025 and an Upper Tribunal case concerning the renewal of an Electronic Communications Code agreement.

Power purchase agreements (PPAs) and consequently the checklist issues that arise will vary depending on a number of factors, including the type of energy generating technology utilised and, particularly, whether or not feedstock or fuel is required for operation of the completed facility. Whether the PPA, a short-term trading arrangement or a longer-term arrangement needed to underpin financing will also have a significant impact. This Checklist assumes a ‘conventional’ PPA where the counterparty is a licensed supplier. There are other variants, including corporate PPAs where the counterparty is an end-use customer, possibly connected to the generating facility by a direct wire. For more information about corporate PPAs, see Practice Note: Corporate Power Purchase Agreements—an introduction to structuring power purchase arrangements between large energy users and remotely located generators. What is/check the duration of the agreement? Where a PPA is required to underpin the external financing of a new generating facility, the term of PPA should coincide, so far as practicable, with the terms of any loans used to finance the project. It is often calculated from the point

Produced in association with 4 Pump Court ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note provides background to and a summary of the changes to the Housing Grants Construction and Regeneration Act 1996 (HGCRA 1996) through the coming into force of the Local Democracy, Economic Development and Construction Act 2009 (LDEDCA 2009). It also considers the consequential amendments to the Scheme for Construction Contracts. The changes apply from 1 October 2011 (from 1 November 2011 in Scotland)—they are not retrospective. For a table comparison of the changes made, see Practice Note: Comparison of adjudication and payment provisions under HGCRA 1996 and as amended by the LDEDCA 2009. The links in the Practice Note are to the amended versions of the HGCRA 1996 and the Scheme for Construction Contracts. For the unamended versions, see Part II of the HGCRA as enacted and Scheme as enacted. Background In May 2008 the Government produced a draft bill to amend Part II of the HGCRA 1996. This followed

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This Practice Note considers the VAT treatment of a supply of staff in the course or furtherance of a business. It is important to correctly identify where a supply of staff has been made, as opposed to a supply of an introduction to staff or a supply of services that involves the use of staff, as the VAT treatment of the supplies will be different in each case. The distinction is especially crucial to an employment bureaux whose business may be carrying out supplies of staff or the supplies of introductions to staff (or possibly both in different areas of the business). What is a supply of staff for VAT purposes? HMRC states that a business makes a supply of staff for VAT purposes if, for a consideration, it provides another person with the use of an individual who is either: • contractually employed or engaged by the first business, or • a director of the company It is irrelevant for VAT purposes whether the employment or engagement of the individual who is supplied