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Consideration s2LP(MP)A 1989

Without a deed, as required under s52 LPA 1925, do you then end up needing consideration for an enforceable contract of sale under s2 LP(MP)A 1989, so as to be able to exercise your equitable rights under Walsh v Lonsdale?

Reply 1

suffocation1992

Original post by Jilly.0

Hi Jilly

Without more facts as to the transaction, I'll just say that for Walsh v Lonsdale to apply, the contract must be specifically enforceable. This is because specific performance renders the contract inevitable. So for a specifically enforceable contract, you need a valid contract satisfying the requirements of Section 2 LP(MP)A1989, you need consideration and there must be no defence to specific performance (e.g. unconscionable conduct).

I hope this helps

Suff

Reply 2

Jilly.0

Original post by suffocation1992

hi jilly

without more facts as to the transaction, i'll just say that for walsh v lonsdale to apply, the contract must be specifically enforceable. This is because specific performance renders the contract inevitable. So for a specifically enforceable contract, you need a valid contract satisfying the requirements of section 2 lp(mp)a1989, you need consideration and there must be no defence to specific performance (e.g. Unconscionable conduct).

I hope this helps

suff

thank u!