Under s 52(3) of the Leases (Commercial and Retail) Act 2001 (ACT), whether there has been an offer and acceptance is determined objectively, not by reference to the parties' subjective intentions, even though the terms bear their ordinary rather than technical contractual meaning. The Magistrates Court has a discretion under s 58 to dismiss an application to disqualify a valuer where the process has become futile. There is no implied statutory obligation on a lessor to maintain an offer to renew a lease after market rent has been worked out, absent an interim agreement under s 53(4).
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