Option - Law Dictionary Search Results
Home Dictionary Name: optionOption of purchase in a lease
Option of purchase in a lease. A clause giving the lessee the option of purchasing the reversion for a fixed sum within a limited number of years, or at anytime during the term, is sometimes inserted in leases. A clause giving an option of purchase at any time during a ninety-nine years' lease offends against the law of perpetuities (see that title) and cannot be specifically enforced, Woodall v. Clifton, (1905) 2 Ch 257; Worthing Corporation v. Heather, (1906) 2 Ch 532. For statement of opinion that the clause 'to be completely valid must be so expressed that the option must necessarily be exercised (if at all) within the limits of the time allowed by the rule against perpetuities,' so that probably not more than twenty one years could be allowed in a lease independent of life, see article by Mr. T. Cyprian Williams in the Solicitors' Journal for July 9, 1898; and for cases on option of purchase generally, see Woodfall, L. & T....
Optional
Involving an option depending on the exercise of an option left to ones discretion or choice allowed but not compulsory as optional studies it is optional with you to go or stay...
Option
Option. 1. When a new suffragan bishop is consecrated by the archbishop of the province, by a customary prerogative, the archbishop claims the collation of the first vacant dignity or benefice in that see, at his own choice, i.e., option. Options are now disused. 2. The word is also used in commercial matters to express a right to effect a certain dealing or not in shares or goods at a stated price at a certain date, at the option of the person bargaining, who pays a premium for the right....
fixed amount option
fixed amount option : installments-for-a-fixed-amount option at option ...
fixed period option
fixed period option : installments-for-a-fixed-period option at option ...
Option of purchasing an undertaking
Option of purchasing an undertaking, the expression 'option of purchasing an undertaking' merely means the right of purchasing the undertaking. The word 'option' is used because two courses are open to the concerned authority namely, either to purchase the undertaking or renew the licence, Gujarat Electricity Board v. Shantilal Desai, AIR 1969 SC 239 (242): (1969) 1 SCR 580. [Electricity Act, 1910, s. 7]...
call option
call option see option ...
covered option
covered option see option ...
dividend option
dividend option see option ...
futures option
futures option see option ...
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