The Court held that the option was not validly exercised. On the time issue, the 'date of this Agreement' was the date the agreement became binding (14 May 2009, when the last party signed), not the date written on the cover page or beside earlier signatures, meaning the option had not expired when the plaintiff purported to exercise it. However, on the service issue, the specific requirement in cl 4.2(a) that a Call Option Exercise Notice be delivered to the grantor's address for receiving notices took precedence over the general provision in cl 11.2 permitting service on a party's lawyer, applying the generalia specialibus non derogant principle. Since the notice delivered to the grantor's home address lacked the required bank cheque, and the notice delivered to the solicitors' office was not at the correct address, neither constituted valid exercise of the option.
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