Fairclough v Swan Brewery Co Ltd

Fairclough v Swan Brewery Co Ltd

Court	Judicial Committee of the Privy Council
Citation(s)	[1912] UKPC 1. [1912] AC 465
Case history
Prior action(s)	Supreme Court of Western Australia
Keywords
Mortgage

Fairclough v Swan Brewery Co Ltd [1912] UKPC 1 is an English land law case, concerning mortgage.

Facts

A had a lease of a hotel, due to expire in June 1925. In return for a loan from C, A transferred his Lease to C by way of security for A’s duty to repay the loan. Under the mortgage deal, the last repayment is due in May 1925. In 1910, A was in a position to repay the debt plus the agreed interest. C insisted it had an additional right: A could not repay the debt until May 1925.

Judgment

Lord Macnaghten held that A was able to pay off the debt early. If the additional right were enforceable, the prospect of A regaining his right would, in effect, be removed. The prospect of regaining the lease for a month was not reasonable.

Sources on mortgages

Law of Property Act 1925 ss 85-87

FSMA 2000 ss 2-28, 56-66, 138 and 150

CCA 1974 ss 8-16B, 26-40, 50-88C, 126-136, 140A-B

Barclays Bank plc v O'Brien [1993] UKHL 6

Royal Bank of Scotland v Etridge (No 2) [2001] UKHL 44

UTCCR 1999 rr 5-7, Sch 2, para 2(b) and (d)

Vernon v Bethell (1762) 28 ER 838

Fairclough v Swan Brewery [1912] UKPC 1

Jones v Morgan [2001] EWCA Civ 995

Financial Conduct Authority Handbook (MCOB 13)

LPA 1925 ss 88-91

Administration of Justice Act 1970 s 36

CCA 1974 ss 129-130

Ropaigealach v Barclays Bank plc [2000] QB 263

Cheltenham & Gloucester BS v Norgan [1995] EWCA Civ 11

Bristol & West Building Society v Ellis (1997) 73 P&CR 158

LPA 1925 ss 88, 101-109

Cuckmere Brick Co v Mutual Finance [1971] EWCA Civ 9

Silven Ltd v Royal Bank of Scotland [2003] EWCA Civ 1409

Tse Kwong Lam v Wong Chit Sen [1983] UKPC 28

York Buildings Co v Mackenzie (1795) 3 Paton 378

see English land law and easements

Notes

References

External links

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