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Advise Lawrence and Tomlin as to their rights and remedies if any.
Member rating: No Rating | Words: | Submitted: Mon Jan 26 2004
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In 1999 Lawrence purchased a dwelling-house, Bleak House. On the purchase price of £80,000 a sum of £35,000 was raised as a loan from Maugham and secured by a legal charge upon the property. In 2002 Lawrence granted a monthly tenancy to Tomlin, a student at Sodcaster University, who knew nothing of the mortgage to Maugham. Tomlin spent the long vacation of 2003 away from Sodcaster as a musician on a cruise liner. He returned to find that Lawrence had defaulted on the mortgage repayments to Maugham and that, under the mortgagee's power of sale, Bleak House had been transferred to Romer for £40,000. The sale had been conducted through Maugham's agents Astbury and Buckmaster, who had contacted Romer, as one of their favoured private clients, making him an offer 'you cannot refuse'. Accordingly Romer agreed to purchase bleak House for £40,000 and to put the sale price beyond all...
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