Ratio Decidendi
An agreement for a lease that is specifically enforceable is treated in equity as if the lease had already been granted. Equity looks on as done that which ought to be done.
Fakty
Lonsdale agreed in writing to grant Walsh a seven-year lease of a mill, with rent payable in advance. No deed was executed. Walsh went into possession and paid rent quarterly in arrear. Lonsdale demanded a year's rent in advance as per the agreement and distrained for it.
Podsumowanie orzeczenia
The Court of Appeal held that the agreement was specifically enforceable and therefore in equity was as good as a formal lease. Lonsdale was entitled to demand rent in advance under the terms of the equitable lease.
Kluczowe cytaty
"There is an agreement for a lease of which specific performance would be granted. That being so, the tenant holds under the same terms in equity as if a lease had been granted."
— Jessel MR
Późniejsze zastosowanie
Remains the leading authority on the principle that an agreement for a lease = an equitable lease. Subject to the requirement of a written contract under s.2 Law of Property (Miscellaneous Provisions) Act 1989.