Joint Minutes Of Agreements
David and Liz are buying a house together. Liz provides 70% of the money needed to purchase. While they intend to collectively register as owners in the land registry, one minute of the agreement can be used to show that Liz owns a larger share of the property. If they sell in the future, Liz can count on this document to show that she is entitled to a greater share of each profit. A warning story in this regard can be found in Lord Woolman`s recent judgment at McKenzie and others against Asda Group and DHL Services 2018 CSOH 102. This action involved a traffic accident in which both the Asda driver and the DHL driver were guilty. The value of the debt had been agreed before the evidence (trial) in a common minute. The second defence counsel argued during the trial that the claims of the second and third prosecutor (applicant) must be justified on the basis that they represent a pure economic loss (financial loss resulting from an act of negligence in the absence of personal injury to a person or property). Lord Woolman rejected this argument for two reasons.
First, the common minute was a contract and the text of the protocol did not allow for qualifications; As far as the contract was concerned, the obligation to pay was not liable to the responsibility of one of the defence lawyers (or one of them) for the cause of the accident. Second, and in any event, the second and third pursuers sought damages for expenses and costs incurred as owners of the damaged property. The losses suffered by the second and third pursuers therefore did not represent a purely economic loss. Although McKenzie`s common minute ultimately made no difference to the outcome of this particular case, the judgment in time reminds us of the importance of ensuring that the agreed common minute is carefully considered and formulated accordingly, since the parties are related to what was agreed after the signing and the deposit of the minute. If you plan to buy a property with another person, you can use one minute of the agreement to show exactly who owns what share of the house. Let us guide you through the process of creating a minute`s agreement. In Scotland, registration within the European Union is governed by the rules of the Court of Session. Recognition is governed by the Brussels-I regulation (for maintenance conditions) or by the maintenance regulation (for maintenance provisions).