{"id":5421,"date":"2018-07-30T06:39:51","date_gmt":"2018-07-30T06:39:51","guid":{"rendered":"https:\/\/paceadelaidelegal.com.au\/exercising-options-is-strict-adherence-to-the-terms-of-the-agreement-necessary\/"},"modified":"2018-07-30T06:39:51","modified_gmt":"2018-07-30T06:39:51","slug":"exercising-options-is-strict-adherence-to-the-terms-of-the-agreement-necessary","status":"publish","type":"post","link":"https:\/\/paceadelaidelegal.com.au\/exercising-options-is-strict-adherence-to-the-terms-of-the-agreement-necessary\/","title":{"rendered":"Exercising Options \u2013 Is Strict Adherence to the Terms of the Agreement Necessary?"},"content":{"rendered":"<p>It is important with any agreement that the terms and conditions are adhered to, so as to prevent a breach, or even a fundamental breach giving the other party an option to terminate.<\/p>\n<p>In some circumstances, however, if a term in an agreement becomes contradictory to other legal obligations, it may be necessary to divert from <em>strict compliance <\/em>of that term.<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-5385 size-medium\" src=\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/contract-300x287.jpg\" alt=\"Adherence to terms of agreement\" width=\"300\" height=\"287\" srcset=\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/contract-300x287.jpg 300w, https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/contract.jpg 364w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>For example, in the case of <em>Matos v JLF Corporation Pty Ltd <\/em><em>[2016] QSC 032, <\/em>Matos exercised a put option requiring JLF to purchase his property. JLF claimed the option had not been validly exercised because Matos used a later version of a standard form contract to exercise the option, instead of the older version contemplated by the term in their agreement.<\/p>\n<p>The court found that notwithstanding this, Matos had validly exercised the put option by using the later contract, because by <em>strictly complying <\/em>with their agreement in relation to the mode of exercise of the option, Matos would have fallen foul of other state laws. He was able to obtain a declaration compelling JLF to purchase his property.<\/p>\n<p>For more information or assistance on exercising rights in an agreement, please contact Shavin Silva, our Associate Lawyer who specialises in commercial contracts with <a href=\"https:\/\/paceadelaidelegal.com.au\/contact-us\/\">this form<\/a> or on 08 8410 9294.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is important with any agreement that the terms and conditions are adhered to, so as to prevent a breach, or even a fundamental breach giving the other party an option to terminate. In some circumstances, however, if a term in an agreement becomes contradictory to other legal obligations, it may be necessary to divert [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[60],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Strict Adherence to the Terms of the Agreement Necessary?<\/title>\n<meta name=\"description\" content=\"Our lawyers discuss whether strict adherence to the terms of the agreement are necessary? What are your options and how should you excersise them?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/paceadelaidelegal.com.au\/exercising-options-is-strict-adherence-to-the-terms-of-the-agreement-necessary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Strict Adherence to the Terms of the Agreement Necessary?\" \/>\n<meta property=\"og:description\" content=\"Our lawyers discuss whether strict adherence to the terms of the agreement are necessary? 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