The court considered whether, a tenant having become bankrupt during the currency of a quarter, that part of the quarter’s rent apportionable to the part of the quarter before the order of adjudication should be held to be rent ‘accrued due’, within section 42(1) of the 1883 1883. Such apportionable part of the quarter’s rent was of course not recoverable from the tenant until the expiry of the quarter; but it was held, nevertheless, that is to say, notwithstanding the fact that it was not payable until the end of the quarter, to have ‘accrued due’ within the meaning of section 42, from day to day. In other words, the effect of the Apportionment Act was held to be that, rent accruing de die in diem, the part attributable to the time elapsed must be considered as ‘accrued due’ for the purpose of applying a statute passed before the Apportionment Act itself.
Citations:
[1895] 1 QB 844
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – Hydro-Electric Power Commission (Ontario) v Albright 2-May-1922
Supreme Court of Canada – Contract – Purchase of shares in company – Mortgage on company property – Security for bonds – Covenant to provide sinking fund – Earnings for calendar year-Payments at fixed date – Payments ‘accrued but not yet due’ . .
Cited – Tael One Partners Ltd v Morgan Stanley and Co International Plc SC 11-Mar-2015
This appeal raises a question of contractual interpretation. Its significance lies in the fact that the contractual condition in question forms part of the Loan Market Association standard terms and conditions for par trade transactions which are a . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Landlord and Tenant
Updated: 08 May 2022; Ref: scu.564963