![]() There used to be some doubt as to whether a lockout agreement would, in any event, be enforceable because in many ways such an agreement is no more than simply an agreement to agree. ![]() However, the recent case of Dandara v Co-Operative Retail Services may assist buyers in future who find that sellers have breached a lockout or exclusivity agreement. Historically, the answer has been not a great deal. However, from a buyer's point of view the crucial issue is to what extent these agreements provide real protection in practice. the seller will not talk to any other potential buyers in the meantime) and allowing the buyer to start its normal due diligence. The rationale behind such agreements is that they enable a seller and buyer a short period to agree the specific heads of terms on a transaction whilst at the same time guaranteeing the buyer exclusivity during that period (i.e. However, from a buyer's point of view, the crucial issue is to what extent these agreements provide real protection in practice. Lockout agreements have become increasingly common in the property industry over the past few years. ![]()
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