Form LTBT1 is a form prescribed by the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003, SI 2003/3096 (the Order) which provides that if the parties wish to contract out of (or exclude) the provisions of sections 24–28 of the Landlord and Tenant Act 1954 (LTA 1954) it is necessary for certain specified steps to be taken prior to such agreement being reached. It will often be the case that a landlord wishes to obtain the flexibility of a contracted out lease, as this will enable it to

Please read the following important terms and conditions before you buy anything on our website and check that they contain everything you want and nothing that you are not willing to agree to. Summary of some of your key rights: The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 say that in most cases, you can cancel within 14 days. If you agree the services will start within this time, you may be charged for what you’ve used. The Consumer Rights Act 2015 says: • you can ask us to repeat or fix a service if it’s not carried out with reasonable care and skill, or get some money back if we can’t fix it; • if a price hasn’t been agreed upfront, what you’re asked to pay must be reasonable; • if a time hasn’t been agreed upfront, it must be carried out within a reasonable time. This is a summary of some of your key rights. For detailed information from Citizens Advice please visit www.citizensadvice.org.uk or call 0808 223 1133. The information in this summary box summarises some of your key rights. It

Where a lender makes a secured loan, this will be governed by section 20 of the Limitation Act 1980 (LA 1980), in addition to LA 1980, ss 5 and 8 (a cause of action in contract must be brought within six years, and 12 by way of deed). LA 1980, s 20(1) and (5) provides as follows: ‘20 (1) No action shall be brought to recover— (a) any principal sum of money secured by a mortgage or other charge on property (whether real or personal); or (b) proceeds of the sale of land; after the expiration of twelve years from the date on which the right to receive the money accrued.’ If

A put option is a contract giving a party the right if they elect to do so to sell an asset at a fixed price (the strike price) to a specified buyer by a given date, normally by the giving of notice to exercise the option within a set period of time. Such contracts can be used, for example, where development land has been identified but the prospective purchaser does not want to commit until they have obtained planning permission. An option for the purchaser to have the right to purchase would be a call option; a put option

The interpretation of the terms of a lease are always a matter of construing the document as a whole, in the light of the admissible background facts. See Practice Note: Contract interpretation—the guiding principles. The ordinary rules of construction apply, although the court leans towards a strict interpretation of a forfeiture clause. See Commentary: Construction of the proviso for re-entry: Hill and Redman's Law of Landlord and Tenant [4609]. Subject to that caveat, it appears unlikely that a lease which gives the landlord the right to forfeit if the tenant is 'wound up' would be held to apply on

This Checklist considers the questions to discuss with a prospective claimant bringing a claim for misrepresentation. For guidance on what a claim for misrepresentation is and the key elements required to establish such a claim, see Practice Notes: • Misrepresentation—what it is and similar claims • Misrepresentation—what statements will establish a claim? • Misrepresentation—what is inducement? • Misrepresentation—falsity (fraudulent, innocent or negligent misrepresentation) Assessing the merits of a claim for misrepresentation involves a detailed analysis of the facts and investigating the pre-contract negotiations and discussions that may have taken place many years before. There is a risk that the claimant’s current view of what

The Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), reg 4 provides that where there is a TUPE transfer, and an employee has not objected to the transfer, the contracts of employment of the transferring employees are not terminated but ‘any such contract shall have effect after the transfer as if originally made between the person so employed and the transferee’. Hence, the legal fiction created by reg 4(1) is that, following the transfer, the transferred employee is treated as if they have always been employed by the transferee and not by the transferor. By virtue of reg 4(2) ‘all rights, powers, duties and

The payments that an employee is entitled to receive on termination of employment will be determined by statute and the contract of employment. In relation to notice, the written statement of particulars of employment must include the notice of termination that the employee is entitled to receive. The period of statutory minimum notice to be given to employees is: • no minimum in the first month of employment • one week after continuous service between one month and two years • one week for each complete year of continuous service for service between two years and twelve years • 12 weeks after 12 or more years' continuous service If

A covenant is an agreement contained in a deed or simple agreement whereby the parties, or some or one of them, are or is bound to do or not to do a specified thing. Accordingly, it is valid (and therefore enforceable) as a contract between the parties to it. The mechanism of a restrictive covenant is usually employed so that the benefit and burden of a covenant may pass (or 'run') to the respective successors in title of the original contracting parties in relation to the land within their respective ownerships (and for present

Termination for insolvency Most typical franchise agreements involve the provision of support by the franchisor to the franchisee and will have a clause which gives the franchisor a right upon the insolvency of the franchisee to automatically or by notice bring the franchise agreement (and likewise the franchisors obligations to continue supporting such franchisee) to an end. In such circumstances, unless able to fall within an exemption, the franchisor will (subject to the small entity exemption) be unable to enforce its termination clause against the franchisee and will need to instead rely on other provisions in the agreement that might assist to manage risk or bring the contract to an end. For example,

Section 21 notices and assured shorthold tenancies Assured shorthold tenancies Assured shorthold tenancies (AST) have been created since 15 January 1989. ASTs can be either a fixed-term contract, for example six, 12, 18 months etc, or periodic from the start, that is, monthly, weekly or three-monthly etc, depending on what the agreement says and how often the rent payment is due. When the fixed term ends, if the tenant wishes to stay on, the tenancy can either lapse into a statutory periodic AST, which will be automatic if the parties do nothing, or be renewed for a new term if the parties sign a new agreement on the

The Practice Note: Limitation—tort claims addresses the issues arising out of the Limitation Act 1980 (LA 1980) in relation to tort claims. It looks at limitation periods for actions founded on tort, contribution claims, the discretionary exclusion of the time limit for actions in respect of personal injuries or death, concurrent duties between contract and tort, the date of accrual, continuing wrongs, latent damage and contingent damage. A tort consists of 'a breach of duty which gives a private law right to the party injured to recover compensatory damages at common law from the party causing the injury'. In the case of torts which require proof of damage, of which