L&T Flashcards
What does without prejudice mean?
During the period of negotiations, the opposing party cannot rely on an correspondence or document labelled ‘without prejudice’ in litigation
Difference between a Lease vs Licence
Lease provides exclusive possession of a property, where as a licence only grants right to used the property
(Street vs Mountford)
Usual assumptions for Rent Reviews
- Property available to let on open market by willing tenant and a willing landlord
- Property is fit and available for immediate occupation
- All covenants observed by landlord and tenant
- Property may be used for purposed set out in lease
Usual disregards for Rent Reviews
- Any effect of goodwill
- Tenants improvements if landlord consent has been granted
What is a Calderbank offer?
Settlement offer made on a “without prejudice save as to costs” basis.
“without prejudice” part is for trying to agree negotiations without it being used as evidence in court. “save as to costs” part can be presented in court as evidence towards allocating the legal costs.
Offer must be fair and reasonable.
Cost for 3rd party determination by the President of RICS?
£425 +VAT
3rd party determination options?
- Independent expert
- Arbitrator
How to make an application for ADR?
Lease will determine what method. DSR1 form will then need to be filled out.
What is the difference between an Independent expert and an arbitrator?
Arbitrator will only deal with the evidence provided by both parties.
Independent expert with deal with the evidence and undertake their own.
What is a S.146 Notice?
S.146 Law and Property Act 1925 is served on a tenant following a breach of covenant.
It must give the tenant the ability to remedy the breach if possible.
What section of LTA refers to extending lease agreement?
S29B
