Continue reading "Rectification: Examining intention and agreement"
Day & anr v Day [2013] EWCA Civ 280
Wills & Trusts Law Reports | June 2013 #130The appellants appealed from a first instance decision by Mr Recorder Chapman QC on 15 May 2012, which refused their application for an order for rectification of a conveyance that was executed on behalf of their mother (Mrs Day) by her solicitor (Mr Froud) who was acting as her attorney. The conveyance was dated 6 June 1985. The conveyance had transferred Mrs Day’s home from her sole name into the names or her and her son (the respondent) as beneficial joint tenants. The purpose of the transaction was to enable borrowing to be secured against the property by the respondent. Mrs Day died...
Construction Of Contracts: Unfavourable bargains
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Scarfe & anr v Matthews & ors Claim number: HC12C0096
Wills & Trusts Law Reports | November 2012 #124Bernard Trevor Matthews (testator) died on 25 November 2010 and was survived by the defendants, who were his son, longstanding partner and three adopted children respectively. His estate included a property in France called Villa Bolinha estimated at €15m and property elsewhere estimated at £40m. Although (as he was aware) French law only permitted the testator to leave the second defendant 25% of Villa Bolinha since his children were as of right entitled to 75%, he made a will in France (French will) leaving it to her absolutely. By a letter of wishes, he nevertheless hoped that his chi...
Contract: The only way is up?
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WF v HF [2012] EWHC 438 (Fam)
Wills & Trusts Law Reports | July/August 2012 #121H and W married in December 1993 when W was 32 and H was 62. They have three children aged between 17 and 12. H’s first wife died and he had four children, (the elder children) from that marriage – all now adults aged over 35. His second marriage ended in divorce, but he had no continuing financial ties to his second wife. W had not been married before. Her limited assets, £152,000, the net sale proceeds of her flat, had been invested in an investment portfolio supplemented by contributions from H (including a transfer of shares worth £2.477m). H was the chairman of a com...
Construction Act: Change is afoot
T E
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Dominion Corporate Trustees Ltd & anr v Capmark Bank Europe plc [2010] EWHC 1605 (Ch)
Wills & Trusts Law Reports | December 2011 #115The claimants were trustees of a Jersey property unit trust formed on 17 March 2006 as the vehicle for the purchase of warehouse premises (the property). It was arranged that the vendor of the property would transfer the property to the trustees in return for units, which would then be sold by the vendor to the purchasers. The purchasers were Cantabria Investments Limited (Cantabria) as to 99% of the units and Catalunya Investments Limited (a wholly owned subsidiary of Cantabria) as to 1%. Cantabria was partly owned by Glenmac Limited (Glenmac). Half of Glenmac’s share capital was ...
Drake v Harvey & ors [2011] EWCA Civ 838
Wills & Trusts Law Reports | November 2011 #114Mr and Mrs H, their son A and their daughter F were partners in a partnership engaged in farming. The partnership was governed by a partnership deed dated 14 February 1989. One of the assets of the farming partnership was farmland worth approximately £5.5m. Mr and Mrs H ceased to be partners as a result of their loss of mental capacity. They have since died. A ceased to be a partner on his death and therefore F was the only surviving partner.
The partnership capital was originally divided into A and B capital and additional capital. By clause 6 of the partnership deed, A capital h...
Sale By Auction: Room for mistake
Continue reading "Sale By Auction: Room for mistake"