Re: Contracts, Termination, Repudiation and Rescission
the issue of the Default notice and its operation has been decided by the High Court.
Cannot say what the judgment says til its formal handing down, (i do have a copy) but lets just say we won, and a creditor is not able to terminate without a good notice, if the notice is bad he cannot because he is barred by statute, terminate no matter what he says
Also a point to mention, s170 of the act bars any remedy unless provided for expressly by the act, this is said to also exclude the common law repudiatory breach, on the basis that its not prescribed by the act as being available for breach of s87
It is worth noting the remedies available to hire purchase agreements, these are very very heavily in favour of the debtor if the Claimant does something outside its powers under the Act, however, the same cannot be said about s87
The only bar on s87 is that they cannot take the next step til a good notice has been served and this reinforces Woodchester vs Swain
the issue of the Default notice and its operation has been decided by the High Court.
Cannot say what the judgment says til its formal handing down, (i do have a copy) but lets just say we won, and a creditor is not able to terminate without a good notice, if the notice is bad he cannot because he is barred by statute, terminate no matter what he says
Also a point to mention, s170 of the act bars any remedy unless provided for expressly by the act, this is said to also exclude the common law repudiatory breach, on the basis that its not prescribed by the act as being available for breach of s87
It is worth noting the remedies available to hire purchase agreements, these are very very heavily in favour of the debtor if the Claimant does something outside its powers under the Act, however, the same cannot be said about s87
The only bar on s87 is that they cannot take the next step til a good notice has been served and this reinforces Woodchester vs Swain
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