‘A term would be implied into an option agreement, requiring the purchaser/developer of a plot of land to sell the properties that he had newly constructed, within a reasonable period of time, so held the High Court. The clause was necessary as a matter of business efficacy and without it the option agreement lacked commercial coherence. The Court also deemed the clause to be so obvious that it went without saying. (Marks & Spencer PLC v BNP Paribas Securities Services [2015] UKSC 72; [2016] AC 742 considered).’
Tanfield Chambers, 12th October 2017
Source: www.tanfieldchambers.co.uk
