“PARTICULARS … Extension Fee£5,000.00 (Five thousand pounds). First Option Period The period from the date of this agreement until and including13 June 2024 … Option Fee£5,000.00 (Five thousand pounds). Option Period The First Option Period and (subject to payment of the Extension Fee) the Second Option Period. … Second Option Period A period of 5 years commencing on the expiry of the First Option Period … 2 OPTION TO BUY 2. 1 In consideration of the Option Fee, which the Seller has received, the Seller grants the Option to [the defendant]. The Option Fee is non-refundable. 2. 2 The Option confers the right on [the defendant] during the Option Period to require the Seller to sell the whole of the Property at the Price on the terms of this Agreement. 2. 3 [The defendant] may extend the Option Period so that it extends to the Second Option Period by serving written notice on the Seller before the expiry of the First Option Period (time being of the essence) and paying the Extension Fee to the Seller within 10 working days following service of the Extension Notice (time being of the essence). If the Extension Fee has not been paid on or before such period as aforesaid, the purported extension of the Option Period will be invalid. 2.4 If [the defendant] serves a valid notice under clause 2.3, the Second Option Period will apply. … 2.7 The Option is binding on the Seller and the Seller's successors in title to the Property. 2.8 [The defendant] may assign the benefit of this Agreement to [Inland] without the consent of the Seller, subject to delivery of a deed of covenant in favour of the Seller from the assignee in a form previously approved by the Seller (such approval not to be unreasonably withheld or delayed) whereby the assignee assumes the obligations on the part of [the defendant] contained in this Agreement (including this clause 2.5). 9 TERMINATION 9.1 This Agreement will end if the Seller has not received a valid Option Notice by 4.00 pm on the expiry of the Option Period...”
“1. Assignment 1.1 [Inland] assigns all its rights, title, interest, and benefit in and to [the Assignment Agreement] to [the claimant] with effect from the Effective Date the date of the Deed . 1.2 [The claimant] shall perform all [Inland]’s obligations under [the Assignment Agreement] from the Effective Date.”
“. … pursuant to clause 5.2.2 of the Assignment Agreement, the Defendant was obliged to not terminate whether by action or omission the Option Agreement and to carry out all (including without prejudice to the generality of the foregoing service of any notice to complete) such steps actions and obligations so as to ensure the Option Agreement remains in force. This necessarily includes the requirement to serve a written notice on the Seller to extend the Option Period to the Second Option Period.”
“The court may give summary judgment against a claimant … on the whole of a claim or on an issue if— (a) it considers that the party has no real prospect of succeeding on the claim, … or issue; and (b) there is no other compelling reason why the case or issue should be disposed of at a trial.”
“(i) The burden of proof is on the applicant for summary judgment; (ii) The court must consider whether the claimant has a ‘realistic’ as opposed to a ‘fanciful’ prospect of success: Swain v Hillman[2001] 1 All ER 91 ; (iii) The criterion ‘real’ withinCPR r 24.2 (a) is not one of probability, it is the absence of reality: Lord Hobhouse of Woodborough in Three Rivers District Council v Bank of England (No 3)[2003] 2 AC 1 , para 158; (iv) At the same time, a ‘realistic’ claim is one that carries some degree of conviction. This means a claim that is more than merely arguable: ED & F Man Liquid Products v Patel [2003] CP Rep 51, para 8; (v) The court must be astute to avoid the perils of a mini-trial but is not precluded from analysing the statements made by the party resisting the application for summary judgment and weighing them against contemporaneous documents (ibid); (vi) However disputed facts must generally be assumed in the claimant's favour: James-Bowen v Comr of Police of the Metropolis[2015] EWHC 1249 (QB) at [3]; (vii) An application for summary judgment is not appropriate to resolve a complex question of law and fact, the determination of which necessitates a trial of the issue having regard to all the evidence: Apovdedo NV v Collins[2008] EWHC 775 (Ch) ; (viii) If there is a short point of law or construction and, the court is satisfied that it has before it all the evidence necessary for the proper determination of the question and that the parties have had an adequate opportunity to address it in argument, it should grasp the nettle and decide it: ICI Chemicals & Polymers Ltd v TTE Training Ltd[2007] EWCA Civ 725 ; (ix) However, in reaching its conclusion the court must take into account not only the evidence actually placed before it on the application for summary judgment, but also the evidence that can reasonably be expected to be available at trial. The court should hesitate about making a final decision without a trial, even where there is no obvious conflict of fact at the time of the application, where reasonable grounds exist for believing that a fuller investigation into the facts of the case would add to or alter the evidence available to a trial judge and so affect the outcome of the case: Royal Brompton Hospital NHS Trust v Hammond (No 5) [2001] Lloyd's Rep PN 526; Doncaster Pharmaceuticals Group Ltd v Bolton Pharmaceutical Co 100 Ltd[2007] FSR 3 ;”
“Power to strike out a statement of case (2) The court may strike out a statement of case if it appears to the court– (a) that the statement of case discloses no reasonable grounds for bringing …the claim;” (a) that the statement of case discloses no reasonable grounds for bringing …the claim;”
“… the court is concerned to find the intention of the party or parties, and it does this by identifying the meaning of the relevant words, (a) in light of (i) the natural and ordinary meaning of those words, (ii) the overall purpose of the document, (iii) any other provisions of the document, (iv) the facts known or assumed by the parties at the time that the document was executed, and (v) common sense, but, (b) ignoring subjective evidence of any party’s intentions.”
“The court’s task is to ascertain the objective meaning of the language which the parties have chosen in which to express their agreement. The court must consider the language used and ascertain what a reasonable person, that is a person who has all the background knowledge which would reasonably have been available to the parties in the situation in which they were at the time of the contract, would have understood the parties to have meant. The court must consider the contract as a whole and, depending on the nature, formality and quality of drafting of the contract, give more or less weight to elements of the wider context in reaching its view as to the objective meaning of the language used. If there are two possible constructions, the court is entitled to prefer the construction which is consistent with business common sense and to reject the other. Interpretation is a unitary exercise; in striking a balance between the indications given by the language and the implications of the competing constructions, the court must consider the quality of drafting of the clause and it must also be alive to the possibility that one side may have agreed to something which with hindsight did not serve his interest; similarly, the court must not lose sight of the possibility that a provision may be a negotiated compromise or that the negotiators were not able to agree more precise terms. This unitary exercise involves an iterative process by which each suggested interpretation is checked against the provisions of the contract and its commercial consequences are investigated. It does not matter whether the more detailed analysis commences with the factual background and the implications of rival constructions or a close examination of the relevant language in the contract, so long as the court balances the indications given by each.”
“20.2 Where [the defendant] is in substantial breach of any of its material obligations under the provisions of this Agreement and has failed to rectify the breach within a reasonable time after receiving written notice to rectify the same from the Seller or his professional advisors: 20.2.1 the Seller may terminate this Agreement by serving not less than ten (10) Working Days' notice on [the defendant]; 20.2.2 on expiry of the notice referred to in clause 20.2.1 this Agreement will terminate without affecting any other rights the Seller may have unless [the defendant] has disputed the breach by replying to the Seller in writing”
“2 2 The first Price Calculation Notice must be served within 6 months of the grant of a Qualifying Planning Permission, otherwise this Agreement will end. 2.3 The Option must be exercised within 6 months of the agreement or determination of the Price in accordance with this Schedule 3, otherwise this Agreement will end.”
“This Agreement will end if the Seller has not received a valid Option Notice by 4.00 pm on the expiry of the Option Period […]”
“carry out all (including without prejudice to the generality of the foregoing service of any notice to complete) such steps actions and obligations so as to ensure [the Option Agreement] remains in force”
“The First Option Period and (subject to payment of the Extension Fee) the Second Option Period.”
“1.5 Assignment and sub-sales 1.5.1 [Inland] is not entitled to transfer the benefit of the contract. 1.5.2 [The defendant] may not be required to transfer the property in parts or to any person other than the buyer”