Preseen Q Flashcards
A
Must follow 3 steps 1) SC 9 (1) debtors default - Calling up notice has not been complied with, debtor hasn’t complied with other requirements or the debtor has become insolvent.
2) Procedures used by creditor to enforce the security and unlock remedies. - set out in Royal Bank of Scotland v Wilson 2010 (since not residential don’t need to follow Home Owner and Protection Act)
3) Must comply with pre action requirements in S.24A.
4) Creditors remedies - SC10 remedies, power of sale, power to enter possession , power to seek decree of foreclosures.
B
Accession (accessio) 3 elements - 1) Two or more pieces of corporeal property which have become joined together. 2) One of the pieces must be subordinate in the function of the other.
3) Must be permanent or quasi-permanent.
C
Break clause not utilised in appropriate time frame. Can terminate before ish if one party becomes entitled to rescind due to material breach of contract or irritancy (neither). To terminate after ish there still needs to be 40 days notice of termination.
D
Servitude
P&L(S)A 1973 s3.2 - Prescription on the basis of possession (continuous, open, peaceably and without judicial interruption) for 20 years.
E
Original acquisition - the law of specifactio applies here. If a new thing (nova species) cannot be brought back to its original state then the manufacturer becomes the owner.
