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Chapter

Cover Land Law Directions

14. Mortgages  

This chapter discusses mortgages, specifically mortgage creation, legal mortgages, equitable mortgages, and priority of mortgages. A mortgage is a debt secured on land. A legal mortgage in registered land can now be created only by means of a legal charge under the Land Registration Act 2002, s. 23(1)(a). The mortgagor has a bundle of rights known as the ‘equity of redemption’. If the mortgagee attempts to gain any unconscionable advantage by means of the mortgage, the courts will strike it down. The mortgagee has five potential remedies to recover the debt: an action on the mortgagor’s personal covenant; repossession; sale; appointment of a receiver; and foreclosure. The doctrine of undue influence is important in the law of mortgages. Provided the mortgagee bank follows the steps outlined by the House of Lords in Royal Bank of Scotland v. Etridge (No. 2), it will be protected against a claim for undue influence.

Chapter

Cover Contract Law Directions

9. Duress, undue influence and unconscionable bargains  

Without assuming prior legal knowledge, books in the Directions series introduce and guide readers through key points of law and legal debate. Questions, diagrams and exercises help readers to engage fully with each subject and check their understanding as they progress. This chapter focuses on the principles applicable where a contract is entered into after there have been threats or improper influence brought to bear on one party or where the one-sided nature of the contract suggests that one party has been taken advantage of. The discussions cover duress (duress and pressure, threats against the person, threats against goods and economic duress); undue influence (actual undue influence, presumed undue influence and third-party cases); and unfairness and unconscionable bargains.

Chapter

Cover Koffman, Macdonald & Atkins' Law of Contract

22. Additional chapter: Capacity  

This chapter considers the scope of contractual capacity, noting the tension in the law between the need to protect someone who is incapacitated and the desire to not treat too harshly the person dealing fairly with the incapacitated person. The general rule is that a minor will not be bound by a contract, although the person contracting with them will be. There are exceptions which will bind both parties unless the minor repudiates, and on becoming 18 a minor may ratify a contract made before that date. The law recognizes the general incapacity to contract of minors, the mentally incapacitated, and in certain circumstances where an individual is intoxicated. An adult of sound mind has full contractual capacity, although they may be able to claim that the contract is not enforceable on some other basis, for example undue influence.

Chapter

Cover Business Law

7. Factors Affecting The Validity of a Contract  

This chapter discusses how the manner in which a contract is concluded can potentially affect its validity. Before discussing the terms and details of a contract, it is important to note that a contract may fail due to one or both parties not possessing the capacity to establish a contract. Some of the common reasons includes a mistake by one or both parties, a provision that has been misrepresented in the negotiations, or the use of undue influence or placing the other party under duress in the process of concluding the contract. Some of the reasons listed in this chapter may be common, but the emphasis here is to identify where problems may occur that could prevent the successful operation of the contract despite fulfilling the essential features discussed in the previous chapters.

Chapter

Cover Land Law Concentrate

14. Mortgages  

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 mortgages. A mortgage is a proprietary interest that can be legal or equitable in status. The equity of redemption encapsulates the rights of a mortgagor and includes the equitable right to redeem and the ability to have certain clauses struck out from a mortgage agreement. The mortgagor of a dwelling house has special legislative protection. Where a mortgage is obtained under undue influence, be it actual or presumed, it may be set aside. The mortgagee has various remedies available to it should the mortgagor fail to meet the mortgage payments, dependent upon the status of the mortgage. A property may be subject to more than one mortgage and where this is the case and the property is sold, proceeds from the sale will be applied in order of priority.

Chapter

Cover Concentrate Questions and Answers Land Law

12. Mortgages  

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions. Each book includes typical questions, bullet-pointed answer plans and suggested answers, author commentary, and illustrative diagrams and flowcharts. This chapter presents sample exam questions about the law of mortgages. The questions deal with issues such as their creation; clogs on the equity of redemption; the remedies of a mortgagee and protection of the mortgagor; and undue influence. Remedies of a mortgagee where the mortgagor defaults is an area of the law where, over recent years, the courts have had to consider entirely new social circumstances in relation to ‘negative equity’ and mortgage debt.

Chapter

Cover Essential Cases: Contract Law

Royal Bank of Scotland v Etridge (No.2) [2001] UKHL 44  

Essential Cases: Contract Law provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Royal Bank of Scotland v Etridge (No. 2) [2001] UKHL 44. The document also includes supporting commentary from author Nicola Jackson.

Chapter

Cover Essential Cases: Equity & Trusts

Crédit Lyonnais Bank Nederland NV v Burch [1997] 1 All ER 144, Court of Appeal  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Crédit Lyonnais Bank Nederland NV v Burch [1997] 1 All ER 144, Court of Appeal. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover Essential Cases: Equity & Trusts

Barclays Bank Plc v O’Brien [1994] 1 AC 180, House of Lords  

Essential Cases: Equity & Trusts provides a bridge between course textbooks and key case judgments. This case document summarizes the facts and decision in Barclays Bank Plc v O’Brien [1994] 1 AC 180, House of Lords. The document also includes supporting commentary from author Derek Whayman.

Chapter

Cover O'Sullivan & Hilliard's The Law of Contract

11. Undue influence  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines undue influence in a contract, which is a vitiating factor and also a ground of restitution. It explains that undue influence is hard to define and can more easily be recognised when found than exhaustively analysed in the abstract. This chapter investigates how undue influence is proved by means of a rebuttable presumption based on a relationship of trust and confidence coupled with a transaction that calls for an explanation, and how the resulting presumption is rebutted. It then covers the remedy of rescission for undue influence. Finally it explores undue influence in three-party cases, where relief depends on whether the contracting party had notice, actual or constructive, of the undue influence and whether it had taken reasonable steps.

Chapter

Cover Land Law

13. Mortgages  

This chapter examines mortgages—a form of proprietary security for the advancement of a loan. A bank or lender advances a loan and in return they are granted a mortgage: an interest in the borrower’s land. Mortgages are distinct from other loans because they are ‘secured’ on the property itself meaning that if the borrower fails to make repayments, the bank can take steps to recover its money including seeking possession of the property and selling it. This chapter explores the nature and creation of mortgages, the rights and powers enjoyed by mortgagors, the rights of mortgagees, the effect of undue influence on mortgages, and the priority of mortgages.

Chapter

Cover Complete Land Law

24. The Operation of Mortgages  

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 rights of the mortgagor (rules protecting the equitable right to redeem, ‘clogs’ and ‘fetters’, postponement of redemption, collateral advantages, restraint on trade); statutory regulation of mortgages; leasing of the mortgaged property; undue influence, where a third party pressurizes the mortgagor into cooperating in the granting of a mortgage so that the third party can get a loan from a lending organization; redemption of mortgages; and fire insurance of the mortgaged property.

Chapter

Cover Contract Law Concentrate

10. Duress and undue influence  

James Devenney and Adam Shaw-Mellors

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. The doctrines of duress and undue influence may result in a contract being set aside (the remedy of rescission) where illegitimate pressure has been used in the contracting process. This chapter focuses on instances where the agreement cannot stand in light of duress or undue influence, including instances where the duress or undue influence was exercised by a third party and the contracting party had notice of that duress or undue influence.

Chapter

Cover Thompson's Modern Land Law

10. Mortgages  

A mortgage is a form of security for a loan, the purpose of which is often to finance the purchase of a house. This type of mortgage is known as acquisition mortgage. The house can also be used as security for other borrowing (for example, to pay for an extension to a house) or to finance a small business. Such mortgages are generally termed second, or even third, mortgages. The person who creates the mortgage is called the mortgagor and the person in whose favour it is created is called the mortgagee. The mortgagee is a secured creditor and can transfer the mortgage to another person. This chapter, which focuses on the nature of mortgages and how they are created, also discusses the role of mortgages, types of mortgage, rights of the mortgagor, rights and remedies of the mortgagee, the question of undue influence, and priority of mortgages.

Chapter

Cover Contract Law Concentrate

10. Duress and undue influence  

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. The doctrines of duress and undue influence may result in a contract being set aside (the remedy of rescission) where illegitimate pressure has been used in the contracting process. This chapter focuses on instances where the agreement cannot stand in light of duress or undue influence, including instances where the duress or undue influence was exercised by a third party and the contracting party had notice of that duress or undue influence.

Chapter

Cover Koffman, Macdonald & Atkins' Law of Contract

14. Duress and undue influence  

This chapter looks at the effect of duress or undue influence on the making of a contract. The difficulty is identified of distinguishing hard bargaining from economic duress, when the ‘threat’ is to the economic interest of the party ‘threatened’. This raises the question of what amounts to an illegitimate threat; whether a threat which is not otherwise legally labelled as wrongful will suffice (lawful act economic duress), and whether all threatened breaches of contract do so. The question also arises as to a test of a ‘reasonable’, or ‘practical’, alternative to agreeing. Undue influence is concerned with the surrender of decision making because of the relationship of the parties whether through domination or trust. The presumptions that arise in relation to undue influence, and when they arise, are examined. Consideration is given to the treatment of aggressive and misleading trade practices under the Consumer Protection from Unfair Trading Regulations (as amended by the Consumer Protection (Amendment) Regulations 2014).

Chapter

Cover Land Law

27. Protection of the Borrower  

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 loan contract and the controls that the law has imposed to protect the borrower. The level of protection differs according to the nature of the borrower and the type of security transaction. Market regulation of the residential mortgage market has increased protection for domestic borrowers. Vitiating factors, particularly undue influence, have impacted upon the creation of collateral mortgages of the family home to secure commercial borrowing. Equitable protection has been provided by controls against penalties and oppressive and unconscionable terms, as well as by protection of the borrower’s equity of redemption. Statutory consumer protection now offers more effective protection to domestic borrowers. The common law, equitable, and statutory control mechanisms are then described and applied to demonstrate the protection they afford against particular mortgage terms, for instance to control rates of interest and other costs associated with borrowing.

Chapter

Cover OʼSullivan & Hilliard's The Law of Contract

11. Undue influence  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter examines undue influence in a contract, which is a vitiating factor and also a ground of restitution. It explains that undue influence is hard to define and can more easily be recognised when found than exhaustively analysed in the abstract. This chapter investigates how undue influence is proved by means of a rebuttable presumption based on a relationship of trust and confidence coupled with a transaction that calls for an explanation, and how the resulting presumption is rebutted. It then covers the remedy of rescission for undue influence. Finally, it explores undue influence in three-party cases, where relief depends on whether the contracting party had notice, actual or constructive, of the undue influence and whether it had taken reasonable steps.

Chapter

Cover Land Law

13. Mortgages  

This chapter examines mortgages—a form of proprietary security for the advancement of a loan. A bank or lender advances a loan and in return they are granted a mortgage: an interest in the borrower’s land. This chapter explores the nature and creation of mortgages; the rights and powers enjoyed by mortgagors and the rights of mortgagees. Beyond this, the chapter discusses the effect of undue influence on mortgages and the priority of mortgages.

Chapter

Cover Land Law

27. Protection of the Borrower  

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 loan contract and the controls that the law has imposed to protect the borrower. The level of protection differs according to the nature of the borrower and the type of security transaction. Market regulation of the residential mortgage market has increased protection for domestic borrowers. Vitiating factors, particularly undue influence, have impacted upon the creation of collateral mortgages of the family home to secure commercial borrowing. Equitable protection has been provided by controls against penalties and oppressive and unconscionable terms, as well as by protection of the borrower’s equity of redemption. Statutory consumer protection now offers more effective protection to domestic borrowers. The common law, equitable, and statutory control mechanisms are then described and applied to demonstrate the protection they afford against particular mortgage terms, for instance to control rates of interest and other costs associated with borrowing.