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FE1 Exam Thread (Read 1st post!) NOTICE: YOU MAY SWAP EXAM GRIDS
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Oh my god amazing thank you. I’m actually leaving out much of those too bad mortgages. The notes I have are on that topic are excellent so it could be my best question.
Are you sitting contract and/or criminal?
No I sat both of those last sitting! Criminal you'll fly, I walked out of criminal in tears and it ended up being my highest result! Contract is it's own kettle of fish but totally doable!
I'm sitting company, Con Law, EU and property... given myself a real mountain to climb
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Just wondering if anyone can help me out with company, corporate borrowing and the case of Smith v Bridgend?
I can't get my head around this chapter and any info would be a great help
Thanks
This is what I have for that case in my notes:
Smith v. Bridgend County Borough Council (2002) EWCA
Pl. was the administrator of Cosslet Construction – Cosslet were hired by the Def. County Council to carry out works…
Cosslet received an advanced payment from the Def. in respect of the works. As security for that payment, the building contract stated that all “plant” (i.e. machinery) owned by Cosslet would be deemed the property of the Def. while on site, and that this could be sold by the Def. local authority at any time to satisfy the advanced payment made (in case of default).
The relationship broke down and Def. secured the services of another construction company to finish the works. The Def. sought to use the “Plant” (machinery) with that other contractor.
The Pl. brought an action to prevent this.
HELD – Millett LJ
Legal Ownership in the ‘Plant’ did not pass from Cosslet to the Def., rather, the contract created an equitable charge (i.e. floating charge):
“…the essence of a floating charge is that it is a charge not on any particular asset, but on a fluctuating body of assets which remain under the management and control of the chargor and which the chargor has the right to withdraw from the security despite the existence of the charge…
…
…the essence of a fixed charge is that the charge is on a particular asset or class of assets which the charger cannot deal with without the consent of the chargee…”
The Property which was subject to the charge was a fluctuating body of assets which could be brought to, or removed from, the site in the ordinary course of business by the Chargor (Pl.). Therefore the charge was a Floating Charge.
Thus, the Chargee in this case (the Def.) was not in control of the assets because it was a floating charge and could not put them to the use which it did.
I hope that helps
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Olliepollie wrote: »No I sat both of those last sitting! Criminal you'll fly, I walked out of criminal in tears and it ended up being my highest result! Contract is it's own kettle of fish but totally doable!
I'm sitting company, Con Law, EU and property... given myself a real mountain to climb haha
Oh that’s a mountain alright but Everest has been climbed many times! I think I’d sit EU And Con. separately.
For contract I’ve an ok grasp on the content it’s just important cases now to cram. Criminal is ok too but like contract I’m unsure what to leave out at this stage ..?!
And I’m sorry I have no clue on the other three your sitting to offer any help / advise but I’m sure you’ve them covered enough0 -
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