What is the ratio in Lombard North Central v Butterworth?

Where parties expressly make time of payment of the essence, this creates a condition allowing termination for any late payment, however trivial.

What did the court decide in Lombard North Central v Butterworth?

The Court of Appeal held that the finance company could terminate the hire-purchase agreement for late payment where time was expressed to be of the essence.

Why is Lombard North Central v Butterworth important for contract law?

It shows how parties can override the presumption that payment terms are warranties, preserving termination rights through careful contractual drafting.

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