Archive for Jun 2014

ACCELERATION CLAUSES: BORROWERS (AND LENDERS) BEWARE!

An “acceleration clause” in a loan agreement (where the loan is repayable in instalments) provides that if the borrower fails to pay any one instalment, the full amount of the loan becomes due and is immediately recoverable in full by the creditor. Inserting such a provision into a loan agreement is a sensible precaution for…

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HOUSES, COHABITATION, CO-OWNERSHIP AND THE DANGER OF DISPUTE

A recent High Court case highlights once again the dangers of cohabiting without entering into a formal cohabitation agreement, particularly when substantial assets are acquired jointly. Things fall apart * After living as a couple for 16 years, the parties – let’s call them A and B – jointly bought a house, *They intended to…

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