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The Smiths Scenario Is Conveyancing

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1-0 The area of Scots Law which covers the Smiths’ scenario is Conveyancing. The Smiths’ solicitor is an agent who must act according to their instruction when dealing with the missives . Missives are defined as legal documents in the form of letters exchanged in regards to forming contract for land/property .

1-1 Previously, the law according to the Land Registration etc Act was no electronic document, such as a fax, is valid under s.1(2), unless: it meets certain requirements recommended by Scottish Ministers, or attested by the granter, or more than one granter conforming to subsection 2. It was not sufficient to register an electronic document in: the Register of Sasines, the Land Register of Scotland, Books Council and Session or, the …show more content…
On the 24th of February 2015 the Legal Writings (Counterparts and Delivery) (Scotland) Act was passed by the Scottish Parliament. It received Royal Assent the 1st of April 2015. Section 4 refers to ‘Delivery of traditional documents by electronic means.’ A copy of the document is sufficient, also part of a document. A traditional document has the same definition as defined in the 1995 Act section1A. A traditional document (the missives) can be sent by fax. S.4(9), fax is a method of delivering traditional documents by electronic means; an email, and disc are other examples of delivering traditional …show more content…
The Smiths’ if they fail to pay the contract within 3 weeks are in material breach of contract. The seller may wish to rescind the contract before they issue a written notice to the Smiths’. In the case of Rodger Builders Ltd v Fawdry , the purchaser failed to pay the purchase price. The seller gave a three day deadline which the purchaser could not meet. The seller was perfectly entitled to resale the house to another purchaser.

2-2 There are a number of different possible implications for the Smiths’. It is possible that the entity providing the loan for the Smiths’ might be accommodating to allow the arrears to continue to run temporarily. The Home Owner and Debtor Protection Act acts as a safeguard to an extent. According to s.4(4) the lender must not raise action under s.24B if the Smiths’ are taking steps to rectify the arrears in a reasonable time .

2-3 If the Smiths’ financial situation does not improve it may be a better option to sell the house, pay off the standard security and purchase a smaller home which is more

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