follow different regimes-the sublease will fall under the agreement and the other 2 items will be caught by the MOU.
In my view the Agreement of Understanding to assign the sublease can be treated as Sec 40 Memo.
Under the historic Section 40 of the English law of Property Act 1925 ( Section 40 Memo) which every freshman and lawyer in coveyancing law is familiar with, a contract for sale of land has to be in writing or evidenced by a Memorandum in writing ( Sec 40 Memo), otherwise it was unenforceable by action. Sec 40 applies to any contract for sale of land or other disposition in land or any interest in land.
Disposition is define as including a conveyance which in turn is defined as including mortgage, charge, lease . Thus contract for the sale of land or the grant of lease or assignment of lease is caught by this section.
Section 40 of LPA 1925 has now been amended by Section 2 of the Law of Property (Miscellaneous Provisions ) Act 1989. It states:
2(1) - A contract for the sale or other disposition of interest in land can only be made in writing and only by incorporating all the terms which the parties have expressly agreed in one document, or where contracts are exchanged in each. 2(2) the term may be incorporated in a document either by being set out in it or by reference to some other document
2(3) the document incorporating the terms, or where the contract are exchanged, one of the documents incorporating them must be signed by or on behalf of each party to the contract.
Under Section 2(6), disposition means
Interest in land and means any estate, interest or change in or over land.
Grossman v Hooper, (2001) ALL ER (D) 245(Apr) Held: a contract of sale of Land must be in writing and include, in document or in each document, if contracts are exchanged, all the express terms that have been agreed