The following Property practice note Produced in partnership with Emma Gray of Blackadders and Melanie Ballantyne of Blackadders provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): Due to the effects and impact of Coronavirus (COVID-19), consideration should be given to all longstop dates when drafting and whether they will need to be extended due to the impact of COVID-19.
A suspensive condition suspends the obligation on either party to a contract to perform that contract until such time as the suspensive condition had been purified (or waived, if that is permitted by the terms of the condition). See Practice Note: Suspensive conditions in missives transferring Scottish property. It is imperative that a suspensive condition is well-drafted. Careless drafting can have unintended and often undesired consequences. For further information, see: Suspensive conditions in missives: Stair Memorial Encyclopaedia .
With the exception of dealing with title matters, the majority of suspensive conditions will relate to non- conveyancing matters, eg:
compliance with the relevant tax regime
transfer of employees
compliance with environmental law
This Practice Note sets out universal considerations in drafting suspensive conditions of any kind then considers specific points when drafting specific commonly used suspensive conditions. See the Property Standardisation Group (PSG): PSG offer to sell—Investment and the Scottish Standard Clauses for examples of suspensive conditions commonly used in commercial and residential contracts respectively.
The condition should state clearly which party
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.