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34 Cards in this Set
- Front
- Back
If purchase with credit card may gain extra protection and go after creditor is seller insolvent/untraceable. |
OFT v Lloyds TSB Bank plc |
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a) restricted use credit agreement |
Durkin v DSG Retail Ltd |
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non-indemnity: need insuranble interest but only needed at time of loss |
Feasey v Sun Life Assurance Co |
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Indemnity: need insurable interest at conclusion of contract. |
Scottish Widows Fund v Buist |
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GD: if the highest of good faith Disclosure: For life insurance test is from view of reasonably insured |
Life Association of Scotland v Foster |
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The duty of gd faith persists: through negotiation, the duration of the insurance, at the time of making a claim |
Manifest Shipping Co Ltd v Uni Polaris Insurance Co. ( The Star Sea) |
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Disclosure: what they should have know with reasonable inquiries |
Highlands Insurance Co v Continental Insurance Co |
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Disclosure: Opinion is fine as long as you have knowledge and belief to back it up |
MacPhee v Royal Insurance Co Ltd |
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Disclosure: When a renewal as though it is a completely new contract so must disclose new info. |
Lambert v Co-operative Insurance Society |
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Disclosure: What is material? Judged from side of prudent insurer. |
Hooper v Royal London General Insurance Co Ltd |
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Disclosure: To avoid insurer must show was material fact and non-disclosure induced them into the contract |
Pan Atlantic Insurance Co Ltd v Pine Top Insurance Co ltd |
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Agents: :Lloyd's agents ALWAYS work for insurer |
Roberts v Plaisted
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Agents: if known to the agent, deemed known to the principle |
a) Bawden v London, Edinburgh and Glasgow Assurance
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Warranties: can't hold future is unclear that is what it is doing- abstinence from drink, then won bowling match |
Kennedy v Smith and Ansvar Insurance Co Ltd |
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Warranties: if not totally complied with may avoid contract |
Dawson Ltd v Bannin |
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Warranty: insurer doesn't need to show loss and casual connection between warranty ( though in practice this is always done now) |
Jones and James v Provincial Insurance Co Ltd |
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Claims: Indemnity principle: must put the insured back where they would have been had the loss not occurred |
Hercules Insurance Co v Hunter |
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Claims: Thing insured against must be the proximate cause |
Leyland Sipping Co Ltd v Norwich Union Fire Insurance Society Ltd |
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Claims: If unclear what is proximate cause and one cause insured the other not. Insurer free from liability |
Wayne Tank and Pump Co Ltd v Employers Liability Assurance Corp Ltd |
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Claims: if an insurer mistakenly pays more than their rateable proportion. Tough |
Legal and General Assurance Society Ltd v Drake Insurance Co Ltd |
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Debt: if an unauthorised bank payment- bank need to pay you back put you have a duty to keep your accounts under review and notify them in reasonable time |
Payment Services Regulation 2009 reg 61/ reg 59 |
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Debt: if a cheque bounces it's deemed not to have been paid. |
Leggat Bros v Gray |
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Cautions: liable for principle debt + interest + expense |
Struthers v Dykes |
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Caution: Limited amount: remains liable up to that amount even if repayments made. appropriation doesn't apply |
FW Hammer and Co v Gibb |
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Caution: they have a right to relief a) may call for debtor to relieve him b) may demand debtor pays the debt |
Smithy's Place Ltd v Blackadder a) Doig v Laurie |
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Caution: giving time is enough to release- failure to press for payment is not. |
C+ A Johstone v Duhia |
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Caution: if cautioners not jointly and severally liable there will be three separate debts |
Morgan v Stewart |
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Caution: creditor needs to ensure they have enough info to know what they are getting into creditor doesn't need to disclose all facts just those that are material risk |
Smith v Bank of Scotland |
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Cautioner- to escape liability need "lack of gd faith + an actionable wrong + only relevant when this is a gratuitous obligation" |
Royal Bank of Scotland plc v Wilson |
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Caution: Novation terminates the relationship as technically a totally new arrangement or IT WILL NOT RELEASE as no delectus persona for creditors |
Calder and Co v Cruickshank's Tr
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Caution: Insolvency a) creditor gets dividend from estate and cautioner pays rest b)creditor may rank in insolvency for part debt ( not paid by cautioner) , cautioner ranks for bit they did pay |
a) Mackinnon v Monkhouse |
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Cautioner released if creditor gives up security |
Sligo v Menzies |
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Personal Insolvency: all arrestement under 60 days/ 4 months after sequestration rank pari passu |
Stewart v Jarvie |
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Personal Insolvency: Challengable transactions the key is why where they done |
Short's Trustee v Chung (No 2) |