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In England and Wales, neither the buyer or seller are legally bound to the transaction until exchange of contracts has taken place. The buyer and seller and then legally bound to buy and sell the property in question. A completion/moving date is then set.
It is therefore critical that all parties are satisfied and all legal issues have been dealt with prior to exchange of contracts.
Alex is a Manager in the Outsourced Business Services team at ECOVIS Wingrave Yeats in London, UK. In March 2024, Alex took a brief, 4-day workcation at the Ecovis office in Sydney, Australia.
A recent Irish court case dealt with directors’ duties, holding non-executive directors personally liable in a case of corporate fraud, even though they had been unaware of that fraud. In Powers v Greymountain Management Limited (in Liquidation), Coates, Grainger, Cartu and Cartu [2022] IEHC 599, Mr. Powers asked the Irish High Court to find directors […]
