Unilateral Offer in UK Law

However, where a rent review clause is associated with a true option (a "break" clause, for example), it is a strong indication that time is intended to be of the essence of the rent review clause—if not absolutely, at least to the extent that the tenant will reasonably expect to know what new rent he will have to pay before the time comes for him to elect whether to terminate or renew the tenancy (cf. Samuel Properties Ltd. v. Hayek [1972] 1 W.L.R. 1296).

At l.30pm on 20th December the Bardon board met to discuss the Camas offer, which had been faxed by Schroders the previous day. The Chairman was authorised to respond by rejecting the offer on the basis that it was inadequate in value and that the board of Bardon did not believe that the record of Camas's management demonstrated that it would be able to achieve the purported synergies or lead a merged group to further growth. This decision was communicated to Camas later the same day.

They also carried out an assessment of the borrowing requirements in the event that the takeover offer succeeded. Together with Schroders and Warburgs they attended a number of board meetings. Shearman & Sterling advised on US anti-trust issues and provided an analysis of the impact of US securities laws. FPC Greenaway are printers and their services related to printing the offer documentation, listing particulars, circulars to shareholders and some press releases.

Whilst GRI undoubtedly became the indirect owner or controller of the shares in CAB and of the Brisas Project I must conclude that it did not at that time make an investment in the assets in respect of which the protection of the BIT was sought.

Vagueness in what is said or omission of important terms may be a ground for concluding that no agreement has been reached at all or for concluding that, although an agreement has been reached, it is not intended to be legally binding. But certainty and completeness of terms is also an independent requirement of a contract.