Blake Morgan acted for the Appellants in this appeal.
Francis and another (Appellants) v Vista Del Mar Developments Ltd (Respondent) (Cayman Islands) Case ID: JCPC 2017/0074.
The issue for the board involved the enforceability of an option in a contract for the sale of land. This option allowed the vendor (the Respondent) to reacquire the land at the price it was originally sold for, if subsequent construction on the land was not carried out by the purchasers (the Appellants) under the terms of the contract for sale.
The Respondent sought to reacquire the land by serving two notices upon the Appellants and then by seeking specific performance of the right by proceedings. The Court of Appeal had determined that the parties were bound by an estoppel by convention, enabling the Respondent to exercise the right to repurchase.
The panel was chaired by Lord Reed. To read more about this case, please click here.
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