Podcast Location:
Download it here [file size: 22.3 MB]
Categories:
Residential Property
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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Regulated by ILEX:
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Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast may be of interest to those interested in the effect of recession on property transactions. It aims to provide a guide as to when an agreement relating to the transfer of real property can be considered breached and what remedies may be available to the innocent purchaser or vendor.

This podcast discusses the remedies of specific performance, rescission and forfeiture of the deposit and a claim for damages.

Outcomes:
After completing the course you will:
  • Understand what a vendor can do when the date for completion has arrived.;
  • Know when 'time is of the essence' of the contract of sale;
  • Know what consequences follow where there has been an unreasonable delay;
  • Know when it will be appropriate and the procedure for serving a notice to complete;
  • Understand what is meant by a party having to be 'ready, willing and able' to complete;
  • Know what remedies are available to an innocent party after a purchaser fails to comply with the notice to complete.
Level:
Complex Difficulty: 4 of 5
Classification:
Case Update
Legal Principles
Practical Guide
Sources and References:
  • Accuba Limited v Allied Shoe Repairs Limited [1975] 1 WLR 1559;
  • Graham v Pitkin [1992] 1 WLR 403;
  • Smith v Hamilton [1951] Ch. 174;
  • Behzadi v Shaftesbury Hotels Limited [1992] 1 Ch. 1;
  • The Standard Commercial Property Conditions (4th Ed);
  • Cumberland Court (Brighton) Limited v. Taylor [1964] Ch. 29 Re Barr [1956] Ch. 551;
  • Quadrangle Development and Construction Co. Limited v. Jenner [1974] 1 W.L.R. 68;
  • Aero Properties Limited v Citycrest Properties Limited [2002] 2 P & CR 21;
  • Emmet and Farrand on Title;
  • Oakdown Limited v Bernstein & Co (1985) 49 P & CR 282 Cole v Rose [1978] 3 All ER 1121;
  • Hasham v Zenab [1960] AC 316;
  • Davis v Spalding (1974) 231 E.G. 373;
  • s.49(2) of the Law of Property Act 1925;
  • James Macara Limited v Barclay [1994] 2 All ER 31;
  • Schindler v Pigault (1975) 119 S.J. 273;
  • Universal Corp v Five Ways Properties Ltd [1979] 1 All ER 552;
  • Dimsdale Developments (South East) Limited v. De Hann (1984) 47 P & CR 1;
  • Safehaven Investments Inc v Sringbok (1996) 71 P & CR 59;
  • Aribisala v St James Homes (Grosvenor Dock) Ltd [2008] 3 All ER 762;
  • Hadley v Baxendale (1854) 9 Exch. 341;
  • Malhotra v Choudhury [1980] Ch 52;
  • Johnson v Agnew [1980] AC 367;
  • Farley v Skinner [2001] 2 WLR. 899.
Tags:

This podcast is about the remedies available to an innocent party to a property transaction that collapses. It examines the precatory steps that should be followed when such a default appears likely and what remedies are available to the innocent party to compel performance of the agreement and the consequences of repudiation.

Podcast added: 21/05/09

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