The parties agreed in writing for the sale of land, the agreement contained a right of pre-emption. In the event of the owner wishing to sell it was to offer to sell a share in the property by notice. Within 28 days of the notice, the grantee was to accept the offer ‘subject to contract’. Within seven days thereafter a draft contract was to be submitted; the draft was to be approved within 28 days, subject to any amendment reasonably required, and contracts were to be exchanged seven days thereafter.
Held: The agreement was binding. There was an incompatibility between the freedom to withdraw from the transaction which the words ‘subject to contract’ suggested, and the duty to submit a contract and to exchange it within a particular timetable.
Judges:
Nourse J
Citations:
[1985] 1 WLR 721
Jurisdiction:
England and Wales
Cited by:
Cited – Confetti Records (A Firm), Fundamental Records, Andrew Alcee v Warner Music UK Ltd (Trading As East West Records) ChD 23-May-2003
An agreement was made for the assignment of the copyright in a music track, but it remained ‘subject to contract’. The assignor later sought to resile from the assignment.
Held: It is standard practice in the music licensing business for a . .
Lists of cited by and citing cases may be incomplete.
Contract, Land
Updated: 28 May 2022; Ref: scu.183735