Any person may redeem who is beneficially interested in the equity of redemption or liable to pay the mortgage debt1. The mortgage debt may be discharged by payment to the mortgagee2, or to a person authorised to receive it. There must be actual payment; the giving of a cheque is not conditional payment of a secured debt so as to release the security3, and payment of substantial sums by registered post which were stolen in transit cannot be relied on4. The mortgagor cannot unilaterally appropriate a cross-claim for unliquidated damages in discharge of the debt5 even if it gives
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
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
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
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