LAND ACT

The Transfer of Land Act 1893



The Transfer of Land Act 1893

Introduction

This paper discusses the Transfer of Land Act in a holistic context. The paper also critically analyzes the Transfer of Land Act and the degree of fairness in the contract. Every contract is not enforced by the court for the enforcement of promises or an agreement court observes some elements. Court will prove that agreement as a contract after having a check on these elements. The contract involves a process of certain elements. The process starts from an offer. For the formation of the contract the offer must be accepted, unconditionally. There are certain more requirements for the offer and acceptance. After the communication of acceptance, law needs two other elements. One is consideration another is terms of the contract.

Background

During the nineteenth century, the world economy has undergone a series of transformations in which the world economy driven by trade began to give way to industrial capitalism. The major economic powers of the time sought to achieve its economic interests by pressing other nations to not conform to the new contours taken by the global economy. To illustrate this situation we can highlight the English interest around the end of the slave trade. With respect to land use, these changes were directly levied on the traditions that once tied to land ownership as a symbol of social distinction. The advance of the capitalist economy was focused increasingly mercantile, where land should have an integrated use of the economy, and their productive potential exploited to the fullest. As a result of this new economic practice, we noticed that several nations discussed the functions and legal rights over that property.

This paper discusses the Transfer of Land Act in a holistic context. The paper also critically analyzes the Transfer of Land Act and the degree of fairness in the contract.

1) What kind of interests do Marjorie, Lucille and Bernie have over “Hillside” and Why?

Marjorie

Frederick agreed to mortgage his Old System Land parcel “Hillside” to Marjorie. This agreement was evidenced in writing. Ordinarily, for there to be a legal mortgage of General Law Land the mortgagor would convey the title deeds to the mortgagee. In this case the transfer never happened; Marjorie does not have the title deeds. Therefore Marjorie cannot have a legal interest in “Hillside”.

If Marjorie has an equitable interest in “Hillside” it must be an equitable interest. Equitable interests can arise when a legal mortgage is incomplete. When “there has been no legal transfer of a proprietary interest but merely a binding undertaking to confer such an interest, that obligation, if specifically enforceable will confer a proprietary interest in the subject matter in equity”.

Marjorie will have an equitable interest if she has a valid enforceable contract. It would need to be evidenced in writing for s4 of the Statute of Frauds meaning it contains the parties, the contractual terms and the consideration. It would also need to be signed by Frederick at a bare minimum (as the ...