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Chapter

Cover Commercial Law

26. Forms of title-based financing  

This chapter examines the ways in which goods and things in action can be dealt with to facilitate the financing of business. It begins with a brief survey of the financing mechanisms available to businesses and proceeds to discuss receivables financing (or ‘factoring’), whereby a succession of debts owed to a business can either be sold outright or subjected to a security interest in favour of a financier, focusing specifically on outright sale. The chapter also discusses how the fact that title to an asset can be split between an ‘owner’ and a person with physical possession of it can be used to advantage in providing flexibility and tax advantages in financing the acquisition of capital items for use in a business through chattel leasing.

Chapter

Cover Complete Land Law

11. Leases—the Basic Requirements  

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the basic principles of the law of leases, or ‘landlord and tenant’ law, as it is sometimes called. It covers the essential requirements for a lease; duration of leases and certainty of term; some concepts related to the law of leases; the distinction between leases and licences; how exclusive possession is defined; shared and multiple occupation cases; ‘sham’ tenancies and pretence clauses designed to negate exclusive possession; and formalities for the creation of leases.

Chapter

Cover Essential Cases: Land Law

Ashburn Anstalt v WJ Arnold & Co. Ltd [1989] Ch 1, Court of Appeal  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Ashburn Anstalt v WJ Arnold & Co. Ltd [1989] Ch 1, Court of Appeal. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Ashburn Anstalt v WJ Arnold & Co. Ltd [1989] Ch 1, Court of Appeal  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Ashburn Anstalt v WJ Arnold & Co. Ltd [1989] Ch 1, Court of Appeal. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Land Law

7. Leases  

This chapter deals with leases and how they relate to the content, acquisition, and defences questions. It first considers the distinction between a lease and a licence, noting that such a distinction reflects the most fundamental distinction in land law: between a property right and a personal right. It then tackles the content question by focusing on the concept of exclusive possession, the requirement that a lease must have a certain term, the nature of a ‘Bruton lease’, the question of rent, and the intention to create legal relations. It also examines the acquisition question by explaining how leases may be created or transferred, and the defences question by distinguishing between legal leases and equitable leases. Finally, it discusses the nature and operation of leasehold covenants and consequent forfeiture if a leasehold covenant is breach. Finally it explains the use of leases in the ownership of flats.

Chapter

Cover The Principles of Land Law

10. Leases  

This chapter discusses the nature, creation, and forms of leases. The leasehold estate is one of the two possible estates in land. The lease is, essentially, consensual exclusive possession of land for a limited duration. The purposes to which leases are put range from very short-term occupation agreements to leases lasting hundreds of years. In order to create a valid lease, the formalities which are required will depend upon the length of the lease which the parties are attempting to create and the type of lease to which they wish to give rise, as well as the nature of the rights which they currently have. There are different forms of leases: periodic tenancies; tenancies at will; and the Bruton tenancy. The chapter then assesses how the relationship between landlord and tenant is managed both during and after the contractual term of the lease. It also looks at one of the most flexible and useful aspect of leases, the ability to sublet, to create concurrent leases, and the nature of the reversionary interest during the currency of the lease.

Chapter

Cover Textbook on Land Law

10. Obligations of landlord and tenant  

Course-focused and comprehensive, the Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter deals with the rights and duties of the landlord and tenant who are the parties to the lease. Every lease contains provisions which define the obligations of the landlord and tenant under the lease. Obligations in a lease may be imposed in one of two ways: by covenants or by conditions. A ‘covenant’ is a promise made by one party (the ‘covenantor’) for the benefit of another party (the ‘covenantee’) which is contained in a deed. Express, implied, and usual covenants are discussed.

Chapter

Cover Essential Cases: Land Law

AG Securities v Vaughan; Antoniades v Villiers [1990] 1 AC 417, House of Lords  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in AG Securities v Vaughan; Antoniades v Villiers [1990] 1 AC 417, House of Lords. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Aslan v Murphy (Nos 1 and 2); Duke v Wynne [1990] 1 WLR 766, Court of Appeal  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Aslan v Murphy (Nos 1 and 2); Duke v Wynne [1990] 1 WLR 766, Court of Appeal. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Berrisford Housing Co-operative v Mexfield [2011] UKSC 52, Supreme Court  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Berrisford Housing Co-operative v Mexfield [2011] UKSC 52, Supreme Court. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Prudential Assurance Co. Ltd v London Residuary Body [1992] 2 AC 386, House of Lords  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Prudential Assurance Co. Ltd v London Residuary Body [1992] 2 AC 386, House of Lords. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

AG Securities v Vaughan; Antoniades v Villiers [1990] 1 AC 417, House of Lords  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in AG Securities v Vaughan; Antoniades v Villiers [1990] 1 AC 417, House of Lords. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Aslan v Murphy (Nos 1 and 2); Duke v Wynne [1990] 1 WLR 766, Court of Appeal  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Aslan v Murphy (Nos 1 and 2); Duke v Wynne [1990] 1 WLR 766, Court of Appeal. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Berrisford Housing Co-operative v Mexfield [2011] UKSC 52, Supreme Court  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Berrisford Housing Co-operative v Mexfield [2011] UKSC 52, Supreme Court. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Essential Cases: Land Law

Prudential Assurance Co. Ltd v London Residuary Body [1992] 2 AC 386, House of Lords  

Essential Cases: Land Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Prudential Assurance Co. Ltd v London Residuary Body [1992] 2 AC 386, House of Lords. The document also includes supporting commentary from author Aruna Nair.

Chapter

Cover Land Law Concentrate

6. The leasehold estate  

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. This chapter discusses the leasehold estate. A lease is one of the estates in land capable of being legal. Without both certainty of term and exclusive possession there can be no lease, although the presence of both does not necessarily mean that a lease exists. Formalities for the creation of a legal lease differ depending upon the duration of the lease. Where these formalities have not been met, an equitable lease may exist provided there is a valid contract capable of specific performance. An equitable lease is not as good as the legal equivalent. The most common types of leases are fixed term and periodic. The process of terminating a lease by forfeiture varies depending upon the type of covenant breached.

Chapter

Cover Land Law

20. Regulating Leases and Protecting Occupiers  

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter reviews the statutory protection potentially available to B if he or she has a lease. It is shown that, in some cases, B can be seen as having a lease (at least, in the sense used by a particular statute) even if B has no property right. A lease can give B status: the status of a party qualifying for statutory protection. As the Law Commission has noted, however, it is questionable whether the availability of such protection should continue to turn on whether B has a lease, rather than a licence, and a new approach has recently been taken in Wales.

Chapter

Cover Land Law

9. Leases  

This chapter examines the lease and its importance and place in modern land law. Leases embrace a multiplicity of contexts from the residential to the commercial to the agricultural. This chapter considers the essential nature and ingredients of a lease, focusing on the central distinguishing of leases: exclusive possession. The chapter also considers the different types of leases that exists as well as how leases are created and can be brought to an end. The key distinguishing feature of a lease as opposed to a licence is its ability to bind third parties as a proprietary right. It is this proprietary status that gives the lease its potency.

Chapter

Cover Textbook on Land Law

11. Enforcement of leasehold covenants  

Course-focused and comprehensive, the Textbook on Land Law provides an accessible overview of one key area on the law curriculum. This chapter discusses how leasehold covenants are enforced, considering the impact of the Landlord and Tenant (Covenants) Act 1995 and the distinction between ‘old leases’ (arising before 1 January 1996) and ‘new tenancies’ (arising after 1 January 1996). For both old and new leases, it considers the effect covenants have on the original parties to the lease; their successors in title (those who acquire the lease or the reversion from the original tenant or landlord); and subtenants (those who hold a sub-lease granted by the original tenant or his successor in title). It illustrates the law by reference to the previously-discussed tenancies of 5 Trant Way (new tenancies) and 6 Trant Way (an old lease) and also considers the position of the subtenants occupying 7 Trant Way.

Chapter

Cover Complete Land Law

14. Termination of Leases  

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the ways in which leases may terminate (natural expiry, giving of notice, merger, surrender, frustration, repudiatory breach by the landlord accepted by the tenant, and forfeiture); forfeiture of leases; modes of forfeiture; forfeiture of a dwelling house; waiver of forfeiture; relief from forfeiture for breaches for non-payment of rent; relief from forfeiture for a breach of covenant other than rent; forfeiture by court proceedings under s146 LPA 1925; remediable or irremediable breaches; relief to subtenants; and the Leasehold Property (Repairs) Act 1938.