Watson v Watchfinder.co.uk Ltd

Contract – Specific performance. The Commercial Court allowed the claimants' claim for specific performance of a share option agreement. The defendant had argued that no consent, as required by the option agreement, had been given and that, accordingly, the option could not be exercised. The court held that, on the true construction of the agreement, the defendant had not had an unconditional right of veto and that it had failed to comply with an implied duty not to exercise it's discretion, in respect of consent, unreasonably, capriciously or arbitrarily.

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