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Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask where the actual equipment is at present please? Has it been returned or do you still have it?
How long is left on your lease agreement?
The CCTV is still in place at my home where I used to trade in providing residential care for elderly people. The lease finishes in May 2017, started in 2011 paying £285.00 per quarter
Thank you. presumably I would be right to understand that the equipment can be removed and physically returned to the owner. Is that correct please?
Yes, it's in the place they installed it
thank you. The starting point is that as you fear, you are liable for payments under the lease until its conclusion unless there is a break provision allowing you to end the lease early at certain intervals during its term. if you were to cease payments otherwise than in accordance with the above, then this would amount to a breach of contract.
however, this does not necessarily mean that the lessor can demand payments from you up until the end of the lease. this is because they have an overriding common law duty to mitigate their losses in respect of any breach of contract on your part
what this means in practice is that you can contact them advising that you need to look to bring an early end to the lease and accordingly asked them to collect the equipment in order that they can attempt to lease the same to a third party.
on the basis that they can lease the equipment to a third party, you would only be liable for lease payments up until they were able to do so and the difference between the amount they are entitled to under the terms of your lease and the amount they can obtain from any third party
Do you have a letter template?
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