Banking & Finance analysis: Mitja Siraj, Vice President of Legal Europe at FIA, discusses the recent publication by FIA of eight sets of contractual indirect clearing terms.
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What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
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
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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