Contractual issues

Contractual issues guidance:

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...

Practice Note

How should the money be transmitted? Most contracts relating to commercial property incorporate either the second or third editions of the Standard Commercial Property...

Practice Note

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...

Practice Note

This Practice Note on rules on interpreting contracts (agreements) (also known as construing or the construction of contracts and contractual terms) considers key cases...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

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...

Practice Note

This Practice Note explains why exclusion clauses are used in property contracts and when they may be of no effect, including at common law in the context of fraudulent...

Practice Note

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...

Practice Note

Execution of deeds Most deeds entered into in the course of a property transaction will require substantive registration or the making of entries on the register by HM...

Practice Note

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...

Practice Note

While this Practice Note primarily covers commercial property matters, it also touches on residential considerations. Time is generally not of the essence for completion...

Practice Note

Notice to complete To: [insert recipient's name and address] Property: [insert property details] We: 1 refer to the contract dated [insert date] by which you agreed to...

Precedents

Notice to complete To: [insert recipient's name and address] Property: [insert property details] We: 1 refer to the contract dated [insert date] by which you agreed to...

Precedents

To be a deed, an instrument must be validly executed: • by the person executing it or a person authorised to execute it in the name of or on behalf of that person, or •...

Practice Note

This Practice Note considers the terms ‘best endeavours’, ‘all reasonable endeavours’ and ‘reasonable endeavours’ that are frequently used in commercial agreements....

Practice Note

While this Practice Note primarily covers commercial property matters, it also touches on residential considerations. Standard Conditions of Sale Where: • a contract for...

Practice Note

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...

Practice Note

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;...

Practice Note

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...

Practice Note

Vacant possession is a term commonly used in sale contracts which provide for the seller to give vacant possession on completion. In the case of leases, whether a tenant...

Practice Note

A contract for the sale or other disposition of land, or of any interest in land, is void unless it complies with section 2 of the Law of Property (Miscellaneous...

Practice Note

Under the second and third editions of the Standard Commercial Property Conditions (SCPCs) (Second Edition and Third Edition respectively) risk passes to the buyer on...

Practice Note

The Standard Conditions of Sale (5th Edn) (5th edition) (SC) reflect the open contract position. They confirm that the risk in respect of the property passes to the buyer...

Practice Note

Subject to contract If a party who strikes a bargain wishes to make it clear that it does not intend to enter into a binding contract until a formal contract has been...

Practice Note