Right to redeem postponed for 40 years.
However in return for this a lower interest rate was
Court of Appeal held that such an agreement was valid.
Sir Wilfrid Greene MR –
To decide otherwise would involve unjustified interference
with freedom of business men to enter into agreements.
The ‘agreement was a commercial agreement between two
important corporations experienced in such matters, and has none of the
features of an oppressive bargain where the borrower is at the mercy of an
Court also held that for equity to strike term down,
not enough for term to be unreasonable.
Must be oppressive or unconscionable.