Fixed Term Leases Flashcards
What are fixed term leases? Does there need to be a maximum period of time?
This is how a lease has to be. Uncertain periods of time for a lease are not permitted. Yes there has to be a maximum period of time e.g. 1 year as to when the lease will end.
What happened in Lace v Chantler?
A lease granted for the duration of the war was not permitted on the grounds of certainty of time. It has to be a specified period of time.
Lace v Chantler was applied in Prudential Assurance v London, what happened?
HL asked itself whether a lease could exist where parties choose for the duration to be vague or the nature of the agreement is vague that only a vague duration is possible. Council planning at one point to widen the road in front of a property lease could continue until the widening took place.
HELD: the court reaffirmed Lace, maximum certain duration is necessary. The lease here was void for uncertainty. A contingent event is not acceptable for the period duration of a lease.
