Summary

Time is not to be presumed as of the essence in a rent review clause in the absence of any indication in the lease to the contrary.

Facts

Appeal by tenant in business lease as to ruling that time was of the essence in the provisions for rent review in the lease and that by the tenant's failure to serve any counter-notice to the landlord's review notice the five week period stipulated in the lease the market rent of #25,000 pa applied.

Held

In the absence of any provision making time of the essence or any, contra-indication in the lease, the presumption that time was not of the essence applied.

Appeal allowed.