“…lobal 100 and the property guardians. The FTT referred to the decisions of the House of Lords in Street v Mountford [1985] 1 AC 810 and AG Securities v Vaughan [1990] 1 AC 417 and asked “what was the substance and reality of the transaction entered into by the parties”.…”
“…As well as what is written on the page, the court may consider the circumstances in which the agreement was made. In AG Securities v Vaughan[1990] 1 AC 417, 458 Lord Templeman put it this way:…”
“…The note also explicitly referred to the decision of the House of Lords in AG Securities Ltd v Vaughan [1990] 1 AC 417 in which it was held that an arrangement of this kind did not amount to the grant of exclusive possession. It went on to say:…”
“…which is not part of the true agreement. That can be seen in the context of landlord and tenant from Street v Mountford [1985] AC 809 and Antoniades v Villiers [1990] 1 AC 417, especially per Lord Bridge at p 454, Lord Ackner at p 466, Lord Oliver at p 467 and Lord Jauncey at p 477. See also in the housing context Bankway Properties …”