Buying Commercial Property · glossary

Lock-out agreement

A seller's promise not to deal with anyone else for a fixed period. It can bind inside heads that are subject to contract, because it is not a contract to sell land, is negative and is given for something. Paragraph 9 of the heads bound Holmfield until 30 April. Chapter 2 · see Heads of terms

Explained in Chapter 2, Heads of Terms and “Subject to Contract”, of Buying Commercial Property.

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