Prudential Assurance Co Ltd v London Residuary Body (1992) established that an uncertain term in a lease agreement renders it invalid as a tenancy. The case reinforced the "certainty of term" rule, illustrating how a lack of fixed duration affects interests in leases and contractual agreements.
Prudential Assurance Co Ltd v London Residuary Body
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🏛️ Court: House of Lords 🗓️ Judgment Date: 16 July 1992 🗂️ Where Reported: [1992] 2 A.C. 386; [1992] 3 W.L.R. 279; [1992] 3 All E.R. 504 📍 Jurisdiction: United Kingdom
Certainty of Term in Leases: A lease must possess a clearly defined term to be valid. If a lease does not specify a definite start and end date, it is considered void. This principle underpins lease agreements, ensuring that both parties are aware of their legal rights and obligations.
