Commercial Leases
Strict rules for exercise of option agreement in agreement for lease and rectification for mistake
Petrol (Passive Emissions Testing Research Organisation Laboratories) Ltd v Industrial Property Investment Fund High Court (Ch), 15 March 2006 (unreported)
In this case the Court was called on to consider the purported exercise of an option to purchase a reversionary lease and
a mistake in the option agreement as to the price to be paid.