DEED OF VARIATION – RECTIFICATION – ASHCROFT V BARNSDALE [2010] EWHC 1948
SEPTEMBER 24TH 2010 | 05:23 TAGS:
The function of rectification is to put right a mistake in the way the parties recorded their agreement. The problem often is that it is hard to distinguish the misapprehension about the tax consequences of executing a particular document from the parties’ specific intention as to how the fiscal objective was to be achieved in the terms of the agreement. Simple misunderstanding of the tax consequences does not justify an order for rectification as the case of Ashcroft v Barnsdale [2010] EWHC 1948 shows:
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