What is the effect of an option clause in a commercial lease?
Nova Scotia, Canada
The following excerpt is from Mitsui & Co. (Canada) Ltd. v. Royal Bank of Canada, 1993 CanLII 9349 (NS SC):
The appellant relies on the decision of Megarry J. in Brown v. Gould, [1972] Ch. 53. In that case a lease contained an option for renewal. The clause provided no machinery for fixing the rent. It was argued that the option clause was bad for uncertainty.
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