Absolute Disposition – Back Bond – Redemption – Irritancy. An absolute disposition was granted to lands bearing to be sold for a fair and adequate price then advanced, with a back bond of same date, allowing redemption of the lands within five years of the date thereof. This period expired without repayment. Held, in the Court of Session, that after expiry of the term, though no declarator of irritancy had followed, the lands were to be held irredeemable for the price then paid-that price being a fair value at the time
[1775] UKHL 2 – Paton – 368, (1775) 2 Paton 368
Bailii
Scotland
Updated: 13 January 2022; Ref: scu.561830