A hire agreement provided that after the payment of substantial sums over the period of hire, the hirers could exercise an option to purchase the equipment for fifty pounds. They purported to sell the equipment before the end of the lease, but the question arose of whether they could give good title.
Held: However likely it was that the option would be exercised, there was no obligation on the hirer to exercise it, and there was therefore no binding agreement to buy, and he could not give good title, despite having possession of the equipment.
Citations:
Times 21-Mar-2000, Gazette 23-Mar-2000
Statutes:
Consumer, Contract, Commercial
Updated: 15 May 2022; Ref: scu.79231
