Contract Advent Calendar - Day 12 - What is a Option Contract

Definition: A contract that gives one party the right, but not the obligation, to enter into another contract in the future, often within a specified time frame.

Example: A vents venue grants a company the option to rent the hall for its Christmas party next year at a fixed price if exercised within six months.

Case law: Walsh v Lonsdale [1882][1]

[1] Walsh v Lonsdale (1882) 21 ChD 9

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We have offices in London, Birmingham, Cambridge, Oxford (all by appointment only), Leicester and our administrative office is in Market Harborough, Leicestershire.

All correspondence and post should be sent to our Administrative office in Market Harborough and we shall not be liable in the event that correspondence is sent elsewhere.

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Summerfield Browne Solicitors

10 Peacock Lane
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Leicestershire
LE1 5PX

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Summerfield Browne Solicitors is the trading name of Summerfield Browne Limited a private limited company registered in England and Wales under number 07937576 with registered address at 10 Peacock Lane, Leicester, Leicestershire, LE1 5PX. Summerfield Browne Limited is authorised and regulated by the Solicitors Regulation Authority - SRA number: 598802. A list of directors is open to inspection at the registered address.