Marks and Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) Ltd and another

Landlord and tenant – Rent. The claimant tenant exercised a break clause in its lease with the defendant landlords. The judge implied a term which enabled the tenant to get back that part of the advance payment of rent which related to a period after the break date by when the lease would have been terminated. The landlords appealed. The Court of Appeal, Civil Division, in allowing the appeal, held that the correct inference to draw was that the parties had proceeded on the basis that the loss from a payment of rent for the broken period should lie where it fell.

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