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Fairclough V Swan Brewery Co Ltd
''Fairclough v Swan Brewery Co Ltd'',. is a English land law, land law case, in which the Judicial Committee of the Privy Council, Privy Council held that restrictions on the right to redeem a mortgage are void. The equity of redemption means that borrowers are able to sell or obtain new mortgage finance promptly and without impinging on other dependent transactions. Background A person who borrows money that is secured against an interest in land (the mortgagor) has a right to redeem the mortgage on repayment of the principal (sum) (plus interest if required by the deed and permitted by the law, such as in a commercial agreement, plus any arrears). This right was enforced by courts of equity and is the equity of redemption. Courts of equity would not permit restrictions on this right, and "[a]ny provision inserted to prevent redemption on payment or performance of the debt or obligation for which the security was given, is what is meant by a clog or fetter upon the equity of re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Committee Of The Privy Council
The Judicial Committee of the Privy Council (JCPC) is the highest court of appeal for the Crown Dependencies, the British Overseas Territories, some Commonwealth countries and a few institutions in the United Kingdom. Established on 14 August 1833 to hear appeals formerly heard by the King-in-Council, the Privy Council formerly acted as the court of last resort for the entire British Empire, other than for the United Kingdom itself.P. A. Howell, ''The Judicial Committee of the Privy Council, 1833–1876: Its Origins, Structure, and Development'', Cambridge, UK: Cambridge University Press, 1979 Formally a statutory committee of His Majesty's Most Honourable Privy Council, the Judicial Committee consists of senior judges who are Privy Councillors; they are predominantly Justices of the Supreme Court of the United Kingdom and senior judges from the Commonwealth of Nations. Although it is often simply referred to as the 'Privy Council', the Judicial Committee is only one cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
