Dutton & Anor v Davis & Anor

Dutton & Anor v Davis & Anor

The transaction, on its true construction and considering the operative terms of the documents, was an outright sale with options to repurchase and not a mortgage. The factors relied on by the appellants, such as inadequacy of consideration and payment of costs, were not sufficient to recharacterise the transaction as a mortgage. The appeal was dismissed as the judge correctly applied the law and reached the right conclusion.

Parties
Appellant: Andrew Dutton; Appellant: Mrs Dutton; Respondent: Mr Davis; Respondent: Mrs Davis
Jurisdiction
England and Wales
Judgment Date
04 May 2006
Procedural Posture
Civil Appeal / Appeal From County Court
Outcome
appeal dismissed
Legal Topics
Mortgages, Sale and Repurchase Agreements, Equitable Right of Redemption, Characterisation of Transactions
Property Law Equity Mortgages Sale and Repurchase Agreements Equitable Right of Redemption Characterisation of Transactions

Case Brief

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Parties

Andrew Dutton

Appellant

Mrs Dutton

Appellant

Mr Davis

Respondent

Mrs Davis

Respondent

Procedural Posture

Civil Appeal / Appeal From County Court

Legal Issues

  1. 1 Whether the transaction between the parties, despite its appearance as a sale with options to repurchase, was in substance a mortgage conferring an equitable right of redemption.

Ratio Decidendi

The transaction, on its true construction and considering the operative terms of the documents, was an outright sale with options to repurchase and not a mortgage. The factors relied on by the appellants, such as inadequacy of consideration and payment of costs, were not sufficient to recharacterise the transaction as a mortgage. The appeal was dismissed as the judge correctly applied the law and reached the right conclusion.

Court Disposition

appeal dismissed

Orders

  • Appeal dismissed.