The following Property Disputes practice note provides comprehensive and up to date legal information covering:
Rescission can either mean a contract is discharged by breach, or that a contract is treated as if it never existed—known as rescission ab initio. This Practice Note explains what these two different remedies mean, what options are available to the parties, and what the Standard Conditions of Sale and the Standard Commercial Property Conditions (the Standard Conditions) provide in that respect.
For contractual remedies in relation to property contracts generally, see Practice Notes:
Notice to complete
Repudiation of property sale contracts
Specific performance of property agreements
Liability for breach of property contract after completion
Return or forfeiture of a deposit
Misrepresentation and misstatement—property
Exclusion clauses in property contracts—misrepresentation
Liability for inaccurate replies to enquiries
Seller’s duty of disclosure and buyer’s remedies
Rectification—unilateral mistake, and
Rescission in the context of a claim based on mistake
The term rescission is used to describe two very different remedies:
rescission ab initio, and
rescission for breach (or more accurately discharge by breach)
Rescission ab initio is an equitable remedy whereby the contract is treated as if it never existed. This remedy is available where a misrepresentation by one party induced the other to enter into it (see Practice Note: Misrepresentation and misstatement—property).
Compensation may be payable to balance the position of the parties. Damages are not payable because there has not been a breach of
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Brexit: The UK's departure from the EU on exit day ie Friday 31 January 2020 has implications for practitioners dealing with provisions in the CPR relevant to cross border matters, including CPR 5.4C (discussed below). For guidance on the impact of Brexit on the CPR, see Cross border
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
If a party to a property agreement fails to comply with its obligations, the other party may wish to apply for an order for specific performance. Specific performance is an equitable, discretionary remedy which, if granted, compels a party to perform a contractual obligation. This Practice Note
What is a reserved judgment?A reserved judgment is a draft judgment that is circulated by the judge. At the end of the hearing the judge will usually state that judgment is being reserved. This is common practice in the High Court. The draft judgment will be provided to the parties’ legal
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