Classic Property Developments (South East) Ltd v Islam & Ors

Classic Property Developments (South East) Ltd v Islam & Ors

The First Option Period ended on 3 September 2013 due to Defendants’ failure to provide written evidence of Lloyds’ consent, and none of the Defendants’ arguments (rectification, implied term, waiver, estoppel, repudiatory breach) prevent Classic from relying on this; Classic is entitled to specific performance and payment of the Compensation Sum.

Parties
Claimant: Classic Property Developments (South East) Limited; First Defendant: Ghausul Islam; Second Defendant: Suhaila Islam Sherwani; Third Defendant: ANS Brass Limited; Fourth Defendant: Redmist International Limited
Jurisdiction
England and Wales
Judgment Date
22 October 2015
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for the Claimant
Legal Topics
Option Agreements, Specific Performance, Rectification, Implied Terms, Waiver, Estoppel, Repudiatory Breach
Contract Law Property Law Equity Option Agreements Specific Performance Rectification Implied Terms Waiver +2 more

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Parties

Classic Property Developments (South East) Limited

Claimant

Ghausul Islam

First Defendant

Suhaila Islam Sherwani

Second Defendant

ANS Brass Limited

Third Defendant

Redmist International Limited

Fourth Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether the First Option Period ended on 3 September 2013 due to failure to provide written evidence of Lloyds’ consent
  2. 2 Whether the First Option Period ended on 29 September 2013 due to failure to pay rent
  3. 3 Whether the First Option Period ended on 31 October 2013 due to failure to pay the Compensation Sum

Ratio Decidendi

The First Option Period ended on 3 September 2013 due to Defendants’ failure to provide written evidence of Lloyds’ consent, and none of the Defendants’ arguments (rectification, implied term, waiver, estoppel, repudiatory breach) prevent Classic from relying on this; Classic is entitled to specific performance and payment of the Compensation Sum.

Court Disposition

Judgment for the Claimant

Orders

  • Specific performance of the Option Agreement
  • Judgment for the Compensation Sum