Summary An oral agreement to divide the interest in a property was valid despite the Law of Property Act 1925 s.53 : the agreement had been acted on, giving rise to a constructive trust, which took it outside the section by virtue of s.53(2). Facts The applicant creditor (C) applied for an...

Summary An ex-company director was entitled to damages from a firm of auditors in circumstances where the auditors were shown to have negligently undervalued his shareholding in a company. Facts The claimant (M) claimed damages against the defendant firm of auditors (N) for losses occasioned by its negligent valuation of...

Summary For the purposes of the Taxation of Chargeable Gains Act 1992 Sch.5B para.1(2)(f), "all the shares comprised in the issue" meant all shares of the same class issued by the company on the same day, and not all of the shares issued on that day for which the...

Summary It was appropriate to grant the landlord of a company in administration leave to commence proceedings for an order terminating an occupational licence of premises when the licence had been granted in breach of an alienation covenant contained in the lease for the premises. Facts The applicant property company ...

Summary Whilst a share sale had been entered into for bona fide commercial reasons, it also had as a main object the procuring of a tax advantage with the result that an assessment to income tax under the Income and Corporation Taxes Act 1988 s.793 had been properly made. Facts The...

Summary Where there was ample evidence that codicils executed by the defendant and his deceased wife satisfied the conditions for the establishment of mutual wills, the judge had been entitled to declare that they bound the deceased's estate in the hands of the defendant and his personal representatives. Facts The...

Summary The buyer of a business had not been entitled to cancel certain loan notes on the ground of the seller's failure to procure the provision of loan guarantees because the non-provision was the result of the buyer's own failure to serve a contractual notice and not the result of...

Summary A security issued as part of a tax avoidance scheme was not a "relevant discounted security" within the meaning of the Finance Act 1996 Sch.13 para.3 because the terms upon which it might possibly be redeemed at a deep gain would never occur. Facts The appellant taxpayers (X) appealed against...

Summary A lessee under a long lease of a block of flats, none of which was subject to long underleases, was entitled to claim the benefit of the Leasehold Reform, Housing and Urban Development Act 1993 Part I Chapter II in relation to each of the flats at the same time...