The LNAT essay should effectively argue the stance you take. You should "sit on the fence". A 700-word limit is given, but 500 words are recommended. Use your introduction to place the question in the broader context and then summarise how you will make your argument.
Use the body of the essay to make your point, explain it and use any relevant evidence. I recommend acknowledging the counter-argument and then providing rebuttal in the same paragraph. This can be done 3 times to make an effective case for the stance you are taking. Use your conclusion to summarise your argument and why it is correct.
Ensure that 5 minutes are left at the end of the session to proof-read, editing any grammatical or spelling mistakes.