Property Matters May 2011

To construe or to rectify?

Once a contract is signed, you would presume that the “deal is done” and the only concern for the future is the risk that one of the parties involved does not comply with its obligations.  It can come as an unpleasant surprise however, when one party approaches the other claiming that the signed document does not accurately reflect what had been agreed and should be revisited.

Property relationships such as landlord and tenant or purchaser and vendor are particularly exposed to unexpected circumstances such as rental market fluctuations, cash flow problems, damage to property and so on.  Facing such circumstances, a party may dust off its lease or other signed agreement in the hope of finding a solution to the problem.  Sometimes the relevant provisions are poorly drafted and ambiguous; sometimes the agreement does not say what the party thought it did. 

In this edition of Property Matters we consider the claims of construction and rectification and what evidence might persuade a Court to make a favourable decision.   

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The content of this newsletter is merely informative and should not be relied upon as a substitute for legal advice.   Copyright 2011 Cobbetts LLP - All Rights Reserved - May 2011