Life in the old clog yet

Life in the old clog yet

Notwithstanding judicial criticism of its antiquated nature and a call for it to be excised, the equitable principle rendering ineffectual any clog on the equity of redemption remains good law. In practice, commercial lenders are unlikely to fall foul of this well-established principle in their standard form mortgage contracts. A number of recent judgments have recognised that the substance of an agreement is more important than the label given to it. Any form of financing agreement must therefore be closely analysed to ascertain whether its substance falls within the ambit of the rule.

Click here to read the article written by Daisy Brown at Guildhall Chambers.

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.