Literature Quiz / Land Law - Mortgages

Random Literature Quiz

Can you name the cases for Land Law - Mortgages?

Quiz not verified by Sporcle

Challenge
Share
Tweet
Embed
Score 0/28 Timer 06:00
TopicCase
‘A conveyance of land as security for the payment of a debt of the discharge of some other obligation’
Equitable Mortgages must comply with s53(1)(c) - A mere exchange of letters will not suffice
Prevention of redemption is never allowed
Postponement of redemption allowed for a freehold property
Postponement of redemption was not allowed for a Leasehold property
'Once a mortgage, only a mortgage'
Generally, Option contracts signed on the day of the mortgage will be struck out
Options are allowed when granted in a subsequent &independent transactions
The Court will look at the substance of the transaction to determine independence
Collateral Advantages will only be upheld for the duration of the mortgage
CAs must not fetter the equity of redemption, be oppressive or unconscionable, or be subject to undue influence (fair bargaining power)
The Court will strike out unconscionable terms (excessive interest rate)
An unconscionable bargain - 'taking advantage of some young, inexperienced, or ignorant person to impose terms that no sensible, well-advised person would have accepted'
The court has a well-established jurisdiction to strike down a penal rate of interest
TopicCase
CCA - unfair interests rates will be considered/disallowed
CCA - commercially acceptable for banks to have a higher interest rate
CCA - Banks can charge higher interests rates if justified on a mortgagor's bad credit score
Banks have a duty to take reasonable steps to explain mortgage terms to each lender independently (wives)
Husband & Wife took out a mortgage to buy a holiday cottage; husband lost everything on the stock market - No relief
HL: A lender must satisfy themselves that no undue influence is in place, involving a solicitor talking frankly and precisely to the wife assuring her that she doesn’t have to do
Where the wife validly consents to the first mortgage, but not the subsequent re-mortgage for a larger sum, she will generally only be bound to the initial sum
‘The mortgagee may go into possession before the ink is dry on the mortgage’
A Reasonable period under s36 AJA, is within the outstanding term of the mortgage
Entering a property and changing the locks when the mortgagor is away, amounts to Peaceful Re-Entry
S101 (1) (i) LPA 1925 – implies a power of sale into every mortgage made by deed
s101 was deemed compatible with Article 1 Protocol ECHR (protection of property)
Steps must be taken to be market or advertise the property in a fair way to get a Reasonable Market Price
A lender (mortgagee) has ‘unfettered discretion’ as to when they sell

You're not logged in!

Compare scores with friends on all Sporcle quizzes.
Sign Up with Email
OR
Log In

You Might Also Like...

Show Comments

Extras

Top Quizzes Today


Score Distribution

Your Account Isn't Verified!

In order to create a playlist on Sporcle, you need to verify the email address you used during registration. Go to your Sporcle Settings to finish the process.