Contracts, Termination, Repudiation and Rescission

[New_Age_Biker]

Re: Contracts, Termination, Repudiation and Rescission

Creditor issues faulty Dn
Debtor cannot rectify the conditions set out in the faulty Dn
Accepts repudiation by telling the creditor, and stating his Dn is pants
Creditor wriets back & says my Dn is fine pay up
Eventually we get to the courthouse
Judge says Dn is pants
Do I get extra costs because I told the creditor his Dn stank?

[pt2537]

Re: Contracts, Termination, Repudiation and Rescission

Creditor issues faulty Dn
Debtor cannot rectify the conditions set out in the faulty Dn
Accepts repudiation by telling the creditor, and stating his Dn is pants
Creditor wriets back & says my Dn is fine pay up
Eventually we get to the courthouse
Judge says Dn is pants
Do I get extra costs because I told the creditor his Dn stank?

That depends on what the judge says further on the subject.

If he rules that the creditor may enforce, then you would need to make submissions on the point of costs.

It ought to lower the costs against you , nbut that is not definite as the judge has discretion on costs

[New_Age_Biker]

Re: Contracts, Termination, Repudiation and Rescission

Thanks for the views Pt
It's good to see this thread discussing matters in a civil way without degnerating as others have
It helps to practice my mooting

[New_Age_Biker]

Re: Contracts, Termination, Repudiation and Rescission

How did you get on with the court Paul? Any hope of a publication soon?

[pt2537]

Re: Contracts, Termination, Repudiation and Rescission

How did you get on with the court Paul? Any hope of a publication soon?

no joy yet, the guy who is handling the file is on public counter and the judge on annual leave.

[fallenangel]

Re: Contracts, Termination, Repudiation and Rescission

have to be honest, reading this my head is spinning and I feel like throwing up lol.

Slightly concerned as went to court on back on faulty DN and T N, lender did a no show, DJ struck their claim out. They are saying that they admit DN was crap and are about to reissue me with one.

Have to say, despite TN I made seceral trips to bank and they refused me making payments to the account and have assigned the debt.

So frankly head spinning. As worried now as to what I will have to pay as how on earth can I find that level of money after a year and not through my own fault, yes admittedly I missed 2 payments, made one, dn was served, made another termination and assignment followed.

Since DJ threw out claim I have made no more payments, but how can I when they would not accept them and sold the debt.

i sincerely hope this Judgement puts all this into perspective and quickly so i know how to proceed,

And I hope PT gets some news soon.

[toomanycalls]

Re: Contracts, Termination, Repudiation and Rescission

have to be honest, reading this my head is spinning and I feel like throwing up lol.

Slightly concerned as went to court on back on faulty DN and T N, lender did a no show, DJ struck their claim out. They are saying that they admit DN was crap and are about to reissue me with one.

Have to say, despite TN I made seceral trips to bank and they refused me making payments to the account and have assigned the debt.

So frankly head spinning. As worried now as to what I will have to pay as how on earth can I find that level of money after a year and not through my own fault, yes admittedly I missed 2 payments, made one, dn was served, made another termination and assignment followed.

Since DJ threw out claim I have made no more payments, but how can I when they would not accept them and sold the debt.

i sincerely hope this Judgement puts all this into perspective and quickly so i know how to proceed,

And I hope PT gets some news soon.

This is surely now a case of only the arrears actually due at the time of the DN are recoverable now by the creditor, if they sell the account it should only be worth the arrears.

[Lord_Alcohol]

Re: Contracts, Termination, Repudiation and Rescission

Any new DN would have to show the original arrears, which you've already paid.

A DN showing new "arrears" post termination just makes no sense, unless you have agreed to have the ag reinstated. Again, "arrears" just means missed contractual payments; no arrears can accumulate post termination because the concept of "missed payments" no longer applies (the OC has removed the facility to pay monthly).

If that doesn't wash, then think about what is written on the DN. These are issued when the contractual payments are not paid, and for no other reason. The arrears can only accumulate, therefore, where there is a facility to make contractual payments (ie, the contract is live). They can't accumulate where the contract is dead and the facility to make monthly payments is removed.

You would be unable to breach your agreement (the trigger for the DN), because it is already breached and terminated. So the OC would have to fabricate the breach at the same time as reinstating the contract in order to serve a new DN.

He cannot just terminate the agreement as some think, because the termination is on breach and he must follow specific steps before claiming his money. However, I suppose he could write to say it was all a bit mistake, your account is now up-to-date, adverse data is removed from the CRAs and then, a fortight later, he sends a non-breach TN followed by a demand for the balance.

I wouldn't put anything passed our finance industry...

[pt2537]

Re: Contracts, Termination, Repudiation and Rescission

have to be honest, reading this my head is spinning and I feel like throwing up lol.

Slightly concerned as went to court on back on faulty DN and T N, lender did a no show, DJ struck their claim out. They are saying that they admit DN was crap and are about to reissue me with one.

Have to say, despite TN I made seceral trips to bank and they refused me making payments to the account and have assigned the debt.

So frankly head spinning. As worried now as to what I will have to pay as how on earth can I find that level of money after a year and not through my own fault, yes admittedly I missed 2 payments, made one, dn was served, made another termination and assignment followed.

Since DJ threw out claim I have made no more payments, but how can I when they would not accept them and sold the debt.

i sincerely hope this Judgement puts all this into perspective and quickly so i know how to proceed,

And I hope PT gets some news soon.

As i said, each case turns on its own facts really

but we will have a formal judgment on the 28th to go and disect

[toomanycalls]

Re: Contracts, Termination, Repudiation and Rescission

but we will have a formal judgment on the 28th to go and disect

Read more at: Contracts, Termination, Repudiation and Rescission - Page 7 - Legal Beagles Consumer Forum

That's this month then PT?

[pt2537]

Re: Contracts, Termination, Repudiation and Rescission

That's this month then PT?

correct

[toomanycalls]

Re: Contracts, Termination, Repudiation and Rescission

Excellent....

[New_Age_Biker]

Re: Contracts, Termination, Repudiation and Rescission

LA
I believe you may have missed a point that Pt made
The OC cannot terminate on the back of a faulty Dn therefore I suggest he is saying by ommission that the contract endures
He has also stated that the arrears due are what is required to correct the default situation at the point in time the Dn is issued (ie 2 yrs worth in my example)
Maybe FallenAngel has hope in the argument about an assigned debt which I broached earlier in the thread
However we have a date from Pt now so then we can start to read and learn our fate...

[Lord_Alcohol]

Re: Contracts, Termination, Repudiation and Rescission

LA
I believe you may have missed a point that Pt made
The OC cannot terminate on the back of a faulty Dn therefore I suggest he is saying by ommission that the contract endures
He has also stated that the arrears due are what is required to correct the default situation at the point in time the Dn is issued (ie 2 yrs worth in my example)
Maybe FallenAngel has hope in the argument about an assigned debt which I broached earlier in the thread
However we have a date from Pt now so then we can start to read and learn our fate...

Yes, you're right Biker, have just been trying to understand what happens when the judge tells both sides that the agreement endures.

I'll just have to be patient...

[Lord_Alcohol]

Re: Contracts, Termination, Repudiation and Rescission

...although PT has already put us on to S129 and the possibility that a time-order might do the trick; eg, bad DN served followed by 2 years of nastiness and a day in court, where the judge makes a time order for the debtor for the original arrears, after which the contract carries on.

I suppose that might be a bit like a "payment holiday", of 2 years in this case.

Of course, the OC was a total s**t in the intervening period, and S140 might allow for compensation for the trashed credit file and all the stress.

There again, would the OC want to run the risk of reinstating the contract? He may be minded to walk away from it all, given the drubbing he's just had in court.