Hayward v Jackson

Hayward v Jackson

The time limits for exercising the option to purchase land under the will are directory, not mandatory, because the will does not specify consequences for non-compliance, and the option price is linked to a formula that may not be ascertainable within the period. Mr Hayward is entitled to exercise the option within a reasonable time after the price is agreed with the CTO and notified to him.

Parties
Claimant: John Albert David Hayward; Defendant: Penelope Marjorie Jackson
Jurisdiction
England and Wales
Judgment Date
18 February 2003
Procedural Posture
Probate/part 8 Claim / Judgment
Outcome
Declaration granted in favour of Mr Hayward; time is not of the essence; Mr Hayward may exercise the option within a reasonable period after price agreement.
Legal Topics
Options in Wills, Time Limits in Testamentary Options, Construction of Wills, Conditions Precedent and Subsequent, Disclosure Obligations of Administrators
Succession Probate Equity Options in Wills Time Limits in Testamentary Options Construction of Wills Conditions Precedent and Subsequent Disclosure Obligations of Administrators

Case Brief

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Parties

John Albert David Hayward

Claimant

Penelope Marjorie Jackson

Defendant

Procedural Posture

Probate/part 8 Claim / Judgment

Legal Issues

  1. 1 Whether the time limit for exercising an option to purchase land under a will is of the essence where the price is to be agreed with the Capital Taxes Office and no consequences for non-compliance are specified
  2. 2 Whether the grantee of the option can exercise it after the expiry of the specified period if the price has not been agreed
  3. 3 Whether the administrator is obliged to disclose information relevant to the exercise of the option

Ratio Decidendi

The time limits for exercising the option to purchase land under the will are directory, not mandatory, because the will does not specify consequences for non-compliance, and the option price is linked to a formula that may not be ascertainable within the period. Mr Hayward is entitled to exercise the option within a reasonable time after the price is agreed with the CTO and notified to him.

Court Disposition

Declaration granted in favour of Mr Hayward; time is not of the essence; Mr Hayward may exercise the option within a reasonable period after price agreement.

Orders

  • Declaration that Mr Hayward can exercise the option within a reasonable period after the price is agreed with the CTO and notified to him.
  • Order for disclosure of all relevant information to Mr Hayward to enable him to decide whether to exercise the option.