How should the money be transmitted? Under Standard Condition of Sale (SC) 6.7 the buyer must pay the completion monies by direct transfer of cleared funds to an account...
How should the money be transmitted? Most contracts relating to commercial property incorporate either the second or third editions of the Standard Commercial Property...
Liquidated damages v penalties—when does the issue arise? Parties will sometimes seek to agree in their contract what sums should be payable upon breach of a particular...
The basic approach of contract interpretation as provided by Lord Hoffmann’s five principles in ICS v West Bromwich Building Society (see Practice Note: Contract...
Key questions for any litigator when reviewing a contract will be: • what does the contract mean? • what are the parties’ respective rights and obligations under the...
A contract for the sale of land, or of any interest in land, is void unless it complies with Law of Property (Miscellaneous Provisions) Act 1989, s 2 (LP(MP)A 1989). It...
Excepted contracts The contractual formalities set out in Law of Property (Miscellaneous) Provisions Act 1989, s 2 (LP(MP)A 1989) do not apply to contracts: • for leases...
Goods are often left behind when a lease ends or a property is sold, especially following forfeiture by re-entry when there may have been no notice. The lease may deal...
Exclusion clauses aim to protect a party to a contract by excluding or limiting liability against claims for breach of contract or in tort. In the context of property...
When transferring an interest in land, any fixtures form part of the land and are transferred with it, unless there is express provision to the contrary. Fittings (also...
While this Practice Note primarily covers commercial property matters, it also touches on residential considerations. Time is generally not of the essence for completion...
This Practice Note considers the terms ‘best endeavours’, ‘all reasonable endeavours’ and ‘reasonable endeavours’ that are frequently used in commercial agreements....
While this Practice Note primarily covers commercial property matters, it also touches on residential considerations. Standard Conditions of Sale Where: • a contract for...
Section 49 of the Law of Property Act 1925 This Practice Note considers the procedure under section 49(1) of the Law of Property Act 1925 (LPA 1925), by which a buyer or...
SDLT is not payable by a sub-seller in a conventional sub-sale which ordinarily completes. So long as the main contract and the sub-contract complete at the same time;...
The meaning of the term ‘successors in title’ will depend upon the context of the use of the term and also the drafting of the relevant lease. A standard lease will...