CASENOTES - Fitzkriston LLP v Panayi - Best Rents, Parol leases and Law of Property Act 1925 Section 54(2)

Casenote considers nature of ruling in Fitzkriston v Panayi and its implications for the interpretation of S.54(2) Law of Property Act 1925

A fresh look at S.54(2)

Examines the operation of the provisions of the Law of Property Act 1925 s.54(2) containing an exception to the rule that a deed is required in order to create a valid legal lease and conferring full legal status to short-term letting agreements created by parol, focusing on the requirements that the lease must take effect in possession and must be at the best rent reasonably obtainable without fine. Calls for the former of these two requirements to be amended and the latter abolished on the ground that they give rise to unnecessary complexity in the law and, in the case of the latter, uncertainty.

Textbook on contract law

This edition of the guide to the law of contract takes account of the implications of Internet contracting and includes discussion of the Consumer Protection (Distance Selling) Regulations 2000. Where appropriate, reference is made, for reasons of comparison, to the principles contained in thePrinciples of European Contract Law (PECL) and the UNIDROIT Principles of International Commercial Contracts.;Significant developments in contract law, both statutory and case law, are discussed, including the Contracts (Rights of Third Parties) Act 1999, the Electronic Communications Act 2000 andthe House of Lords' decisions in Alfred McAlpine Construction Ltd v Panatown Ltd and Attorney General V Blake. Other important decisions covered in this revised edition are Royal Bank of Scotland v Etridge, Barclays Bank Plc v Coleman, Barclays Bank Plc v Boulter, Avon Insurance v Swire, Zanzibar vBritish Aerospace (Lancsaster House) Ltd and Nutt v Read. In addition, there is discussion of the Unfair Terms in Consumer Contracts Regulations 1999 and the European Commission's Review of the Unfair Terms Directive, as well as coverage of Director General of Fair Trading v First National Bank. Other decisions on illegality, onerous terms, constructionand repudiation of contract are included.