Property Newsletter – September 2010
In this issue:
Good Faith at Chelsea Barracks
Contracting parties occasionally agree to act with "good faith" or "the utmost good faith" in carrying out their obligations. This is common in joint ventures and where the future conduct by one party may trigger a payment to another. But what the phrase means is not clearly defined. The concept was considered in the recent case of CPC Group Limited v Qatari Diar Real Estate Investment Company.
Why having a guarantor is no guarantee
The Good Harvest case has been followed with interest throughout the commercial property sector. With the security of landlords on assignments of 'new' leases seriously eroded, we look at the practical steps that can be taken to redress this imbalance plus another recent case that provides some good news for landlords.
Ban on wheel clamping on private land
On 17 August 2010, the Government announced that it will ban wheel clamping on private land in England and Wales. The ban will be brought in by the Freedom Bill, which the Government intends to introduce in November 2010. The ban will mean that individuals and private companies will no longer be able to attain licences from the Security Industry Authority to legally immobilise or remove vehicles from private land, and existing clamping licences will be revoked. Penalties could include fines or even jail terms. It will not change existing traffic enforcement by local authorities and police on highways.
For more information on the issues raised in this Property Newsletter, please contact Joe Gribble at joe.gribble@michelmores.com.
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