Solicitor is obliged to return stake
Solicitor is obliged to return stake
- 1991
- Independent 27 September 1991, 24(1) .
In "Rockeagle Ltd v Alsop Wilkinson", CA 3 July 1991, it was held that a solicitor, holding a deposit for the sale of land as stakeholder, does not acquire any contingent security for money owed by his client, whether vendor or purchaser. The solicitor is obliged to pay the deposit to a new stakeholder if the vendor and purchaser instruct him to do so.
DEPOSITS
SALE OF LAND
SOLICITORS
VENDOR AND PURCHASER
In "Rockeagle Ltd v Alsop Wilkinson", CA 3 July 1991, it was held that a solicitor, holding a deposit for the sale of land as stakeholder, does not acquire any contingent security for money owed by his client, whether vendor or purchaser. The solicitor is obliged to pay the deposit to a new stakeholder if the vendor and purchaser instruct him to do so.
DEPOSITS
SALE OF LAND
SOLICITORS
VENDOR AND PURCHASER