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Undergraduate LAW seen exam questions - module title : Title and security Essay Example

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Undergraduate LAW seen exam questions - module title : Title and security

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Hence all these shares now valued at 17670 are likely to be given to Adverb plc. The Gift of Furniture was out of misappropriated funds and has to be returned. Hence the Furniture now valued at 1000 will be turned over to Adverb plc. This leaves a balance payable 11330 to Adverb plc and 1924 to the Cricket Club.Since Bob is the treasurer of the Club he is in a fiduciary capacity and therefore the club has a first claim on available cash. After satisfying the clubs’ claim of 1924against cash balance of 2540, the balance cash of 616 is payable to Adverb plc..The advise therefore in this case would be that the parties do have an equitable interest in a proprietary claim against Bob. They can seek to claim against Bob for misuse and misappropriation of funds respectively and by using tracing can trace their property to shares that have been bought by him. For the residue Bob can be sued for criminal breach of Trust personally by Adverb plc.Odun owned a freehold house that he mortgaged to End Finance for 2 years with a binding clause that he will not lease it out during mortgage. In violation of this term Odun leased it to Tracy who is unaware of this clause. End Finance discovers and sends a legal notice of possession. While Tracy was on holiday they took possession and put up the property for sale. The sale was made at less than market price to John, an employee of End Finance who misused his position to acquire the property. Advise is needed by Odun and Tracy if they could sue End Finance and John for this unfair conduct.A legal mortgage entitles the mortgagee to possession of the mortgaged land or property. Mortgagees can exercise this right where the mortgagor defaults on the repayments, or if the mortgagor does not abide by the conditions of the mortgage. A legal mortgage equates to a conveyance and must be created by deed. Under the land certificate for the property will also remain deposited at the Land Registry until the mortgage is repaid. (Land Registration Act 1925)When a mortgagor breaches the terms of the mortgage the mortgagee can obtain possession of the mortgaged property. This offers the opportunity to the mortgagee can sell the property as vacant possession should the occasion arise. Where a mortgagee exercises this option the court has made it a requirement that mortgagees have a duty to act

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preview essay on Undergraduate LAW seen exam questions - module title : Title and security
  • Pages: 12 (3000 words)
  • Document Type: Essay
  • Subject: Unsorted
  • Level: Undergraduate
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