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Agreement for lease
Agreement for lease
Construction of RICS Code of Measuring Practice
This is a bit of an odd case in that it involved the court construing the RICS Code of Measuring Practice. The context was an agreement for a lease of a building that was being converted, under which the purchaser was entitled to terminate the agreement if the net internal area (NIA) of the property was less than a certain size (1,852.7m2). The agreement defined the NIA by reference to the Code. After the works were completed the defendant contended that the NIA of the building was less than the contractual requirement; and thus objected to specific performance of the agreement. The resolution of the dispute centred on how certain of the areas were to be measured. In particular the purchaser argued that certain sloping and other areas should be excluded. It argued that to be included within the definition of the NIA an area should constitute a level floor. NIA is defined in the Code in the following way:"Net Internal Area is the usable area within a building measured to the internal face of the p ... THIS IS AN EXTRACT OF THE FULL TEXT. TO GET THE FULL TEXT, SEE BELOW
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