The statutory power of sale under the Law of Property Act 19251 is exercisable by any person for the time being entitled to receive and give a discharge for the mortgage money2; that is, by persons who are mortgagees3, or have the mortgaged property vested in them (such as executors) or are equitable assignees of a legal charge4. Persons deriving title under the original mortgagee can also exercise the power of sale
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Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and considered against the general background of
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
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