Understanding Conveyancing Principles

This assignment delves into the intricacies of conveyancing, examining its fundamental principles and practical applications. Students will analyze various legal frameworks governing property transactions, explore the conveyancing process step-by-step, and critically evaluate relevant legislation shaping this field. The provided resources encompass textbooks, academic articles, and online codes of practice, offering a holistic understanding of conveyancing.

TAKE INSTRUCTIONS IN RELATION
TO A TRANSACTION

TABLE OF CONTENTS
1. Desired outcomes..................................................................................................................................3
2. File notes ..............................................................................................................................................3
3. ...............................................................................................................................................................4
4. ...............................................................................................................................................................4
5.................................................................................................................................................................5
6.................................................................................................................................................................5
7. ...............................................................................................................................................................5
8. ...............................................................................................................................................................6
9.................................................................................................................................................................6
10...............................................................................................................................................................7
11. .............................................................................................................................................................7
A. An authority to proceed .......................................................................................................................7
B. Confirmation notice..............................................................................................................................7
C. Policy and Procedure for closing a file................................................................................................8
12. .............................................................................................................................................................8
12B............................................................................................................................................................8
13. .............................................................................................................................................................9
14. .............................................................................................................................................................9
15...............................................................................................................................................................9
16. ...........................................................................................................................................................10
17. ...........................................................................................................................................................11
18.............................................................................................................................................................11
19.............................................................................................................................................................12
20.............................................................................................................................................................12
21.............................................................................................................................................................13
22.............................................................................................................................................................13
W1...........................................................................................................................................................14
W2...........................................................................................................................................................14
W3...........................................................................................................................................................14
W4...........................................................................................................................................................14
W6 ..........................................................................................................................................................15
W7...........................................................................................................................................................18

W8...........................................................................................................................................................18
W9...........................................................................................................................................................20
REFERENCES.............................................................................................................................................21

1. Desired outcomes
It is necessary to present clearly all the key aspects of the information and must assure
that it is fully understood by the client which will assist them in making a confident and justified
decision that is the desired outcome. As per the FSRA, ASIC had designed “Principles of Good
Disclosure” that targets to make sure that financial product providers disclose all the information
to the client and help them making informed decision.
 In order to establish clear understanding, it is necessary to use unambiguous language
without any technical language to inform client in well manner.
 It is necessary to aware client about the service level and its prospective benefits with the
purchase as well as its limitation (Abbey and Richards, 2017).
 While disclosing potential risks of the offered solution, it is important that client should
not be confused, they just be aware about the agree details in which they are entering.
 It is necessary to fulfil written documentation requirements to guide them about
prospective solutions. It facilitate client to clearly read and examine the opportunity and
solution after presentation.
2. File notes
As per the FSRA statutory requirements, it is necessary to keep file notes in which, client
requirements, needs and expectations is accurately recorded and well presented. It keeps proper
records of interest of client and the conversation made with client, solicitor, fund manager,
accountant and others. Its detail comprises discussions, strategies discussed, client’s feeling and
attitude and background information that is non-financial in nature (Combe, 2017). It also
consists of additional information after the first interview held and action in response to client
complaints. it helps to avoid any discrepancies or issues.
3.
In the conveyance contract, it is necessary to disclose fees to the client at the time of
advising or recommending. It is necessary that fees must be fair or reasonable and must be
charged considering multiple factors including urgency of matter, circumstances, time limitation,
value of property, complexity of matter and requirement of skills, knowledge and responsibility.
The amount of fees may vary from time to time and it is necessary to check and assure that
correct amount is being paid along with the application otherwise; it may delay certificates that

are being returned. For instance, stamp duty, photocopying charges, mailing fees and others are
some common fees (Abbey and Richards, 2017). Besides this, water rates, land tax, council rates
are others are charged. It must be conveyed to the client through a clear fee & disbursement
structure. Financial product adviser also needs to disclose all the fees and commission to the
client. All the fees charged must be paid before the settlement date.
4.
While advising client, as per ASIC policy and FSRA 2001, it is necessary to create a
reasonable and justifiable basis for all the recommendation provided to the client. For such
requirement, following key things necessarily required to be followed, available below:
 Any recommendation or advice must be with reference to the client’s ultimate goal,
personal circumstances, financial situation and particular requirement.
 Before recommending client, it is necessary to have sound knowledge and approved
accreditation in the products that are going to be recommended.
 It is essential to conduct a reasonable investigation before suggesting client about the
product.
It is necessary to act with due care, diligence and competency to advice or recommend
the client. Customer must be conveyed with the solutions clearly and the optional actions must
be discussed with the client that is free of hyperbole and misinterpretation (Sandberg, 2010).
Client has full right to be well inform about the impact and possible risks of the solution to help
him taking well-rationalized decision. In circumstance, where client act differently from the
recommendation, then re-disclosure and warning where consider appropriate must be provided.
5.
Source documents are the statements that display information to verify required details.
In corporate world, every transactions that takes is used in the business has various source
documents including bank statement, cash register, purchase order, sale invoice, deposit book,
profit and loss statement and others that verify the accuracy of information and legality.
6.
In Victoria, apart from the Conveyancing Act 2006, there are number of legislations that
needs to be followed that are Building Act 1993, Domestic Building Contract Act 1995, Estate
Agents Act 1980, Heritage Act 1995, Land Tax Act 2005, Local Government Act 1958, Owners

Corporation Act 2006, Property Law Act 1958, Sale of Land Act 1962, Subdivision Act 1988,
Transfer of Land Act 1958, Water Act and many others. In the state, all the conveyances must be
licensed by Business Licensing Authority who must acts in the best interest of client.
7.
In accordance with the Conveyancers Act 2006 section 47 subsection 1, licensee must
disclose all the relevant cost to the conveyancing work to the client otherwise, penalty will be
charged. As per the section 47, it is necessary to clearly disclose the cost amount, if cost is
unknown then basis of cost computation, manner of invoicing. Invoice must be disclosed either
before or at the time when the conveyance is retained by the client or as early as possible
thereafter. It is required to be delivered or posted on 30th June every year (Reid, Gretton and
Barr, 2010). Standard payment terms are 14 days from the date of delivery of invoice. Otherwise
legal action may be followed to recover overdue money, under which, 2% per month penalty on
outstanding amount for delayed payment is also charged. However, if in any case, licensee does
not give full disclosure in line with s47, then, client would not be liable to pay such cost. Apart
from this, licensee must not charge higher fees unnecessarily and refund unused money from the
anticipated cost.
8.
It is necessary that adviser must be familiar with all the necessary documents and must be
signed off as well. The proposal as well as other statutory documents are necessarily require to
be signed by the client, must be document in line with the relevant instructions, and evidenced in
fact file. The document includes disclaimers, product disclosure, product application form,
statement of advice and confirmation notices. While acting for purchaser, it is necessary to note
following information including settlement date, special contractual conditions, business type,
purchaser identity, source of purchase money, type of property like residential or commercial
and other relevant circumstances (Reid, Gretton and Barr, 2010). Besides this Victorian
Instrument Act 1958, section 126 states that contract of sales must be designed in written. In
order to make it enforceable, following key requirements must be satisfied including material
terms, parties name, subject matter, consideration and must be dated and signed. Although, the
absence of written evidence does not means that it is invalid but it does not helps to prevent legal
consequences in the court. In despite of this, engagement letter is required by conveyancer, in

which, he needs to confirm instruction, advice with client in written, property valuation,
insurance, vendor statement and fees and disbursement structure. Afterwards, conveyancer
applies for certification, lodging caveat on title, prepare transfer documents and deal with lender
or mortgagee.
9.
The first stage in the conveyancing transaction is to address client concerns to develop
rapport and empathy which is done through obtaining information about client, financial status
and financial objectives. Active listening helps to analyze client requirements properly.
Afterwards a clear and appropriate explanation is made through which rapport will be developed.
It also needs to be supported by visuals and documentation so as to create a good rapport with
client. Client will be fully informed with all the products & policies and also will be explain with
the impact of possible risks (Reid, Gretton and Barr, 2010). Everything discussed with the client
must be keep in file notes through establish good rapport and empathy that helps to seek
information about client and their financial goals. It helps to assess all the discussions, determine
what client already know about investment and make sure that products will satisfy client
requirement.
10.
It is necessary to check information accuracy because if client is not identified accurately
they can get access of all the information for which they are not entitled and seriously threaten
the reputation. Prior to attending enquiry of client, it is essential to verify the identity. It can be
done through asking personal details of the client and comparing the response with the database,
telling client to show identification document and checking client signature on the ID. It is the
statutory requirement to assure full identity including birth date. In this, full name, address,
spelling and other key aspects must be verified with the legal documents. In case of more than
one buyer, it is the duty of prudent conveyancer to inquire each and every buyer’s intention.
Double-checking, verification and other requirements need to be satisfied to ensure the
authenticity aspect of the information gathered (Sandberg, 2010).

11.
A. An authority to proceed
It is legal requirement to comply with all the rules and regulations related to the legal
matters. Hence, in order to comply with it, firms need to keep in place an effective compliance
system. Trade Practice Act prohibits the adviser to present misleading and deceptive conduct or
false representation to the client. “Authority to Proceed” document formally authorizes the
adviser to work on the behalf of the client stating that all the statutory requirements, terms and
conditions under the contract are satisfied and brought into effect (Sandberg, 2010). It is one of
the important documents which create a base of formal confirmation declaring that client had
fully understood the advice and accepted the recommendation made. It must be signed and
includes relevant disclosure, fees, pricing schedule and contingency plans as well. It is a
confirmation of the following aspects, provided below:
 Personal financial details and relevant information is found correct
 Client fully understood and gave consent under the privacy statement provision
 Client acts as to proceed with the advice either made or to proceed with different advice
B. Confirmation notice
In the conveyancing work, advisers are expected to keep and maintain disclaimers,
product disclosure statement, and product application form, statement of advice and confirmation
notices as well. After advising the client, it is essential to obtain confirmation notice that states
that client had accepted the advice given to them. It is obvious that messages given to the client
are not always understand in the same manner and incorrect messages resultant cost of time,
effort and money. Confirmation notices clearly presents that client understood the advice very
well and accepted it.
C. Policy and Procedure for closing a file
Privacy act requires storing all the information about client safely by securely locking all
the documents and files that contain confidential client specific information. Closing a file is
necessary because there may be a possibility of some post-settlement inquiries, henceforth, it is
better to keep the file safe that is easily accessible for the minimum duration of 3 months before
archiving (Kerr, 2014). At the end of the matter, all the relevant client specific details and

documents will be compiled together and bind in a file and will be keeps safely in a locked
cabinet. It will help to protect the reach of any external party.
12.
Being a conveyance; it seems too important to necessarily comply with all the statutory
requirements that are related to the legal matter. In order to make sure full adherence and sound
access to legal information, an effective compliance system will be kept in place for all the
employees. Every legal matter will be first examine and clear with the respective senior such as
supervisor or manager following policies and procedures and other requirement to adhere with
the legal rules and regulations. Every worker will be well explained with his or her legal
responsibilities and guided by higher authority so as to avoid any risk of non-adherence.
Moreover, as laws changes time to time, therefore, it will make sure that managers keep them
update with the amendments and comply with it.
12B
Non-compliance with the legal requirements creates a negative image in the eyes of law
due to ignorance or avoidance of the statutory provisions. It can also results in hefty fines and
penalties (Ojienda, 2013). Despite this reputation loss is a major consequence of non-compliance
with applicable legal principles.
13.
In the purchase contract, there is an option available to purchaser to include another
person like partner, spouse, friend or any other as nominee. A standard form contract involves a
procedure of nominee along with the general term (Brennan and Casey, 2014). According to this,
any purchaser who likes to nominate, must advise the nomination vendor within 14 days before
the final settlement. Sometime, it may also set out formally as special condition in the purchase
contract.
14.
Risk is a sign of potential loss. A sound internal control system that is in place within the
organization helps to addresses both the financial as well as operational risks. It provides an
assurance to the company’s management for the compliance with the laws and regulations and
ensures operational effectiveness and efficiency (Ge, Koester and McVay, 2014). It also helps to

prevent against the possibility of failure to manage business opportunities. Internal control
system applied in the business greatly depends on the assessment and evaluation of risks that
control risks to a considerable extent. It enables managerial team to quickly respond to the
internal and external changes (Sihombing and Wilkinson, 2011). It also helps to mitigate
fraudulent activities inside the company by employees through sound monitoring. In current
time, all the entities are subjected with various kind of risks however, a well-organized internal
control system enable firms to minimize compliance, financial and operational risks.
Comparative analysis of internal and external environment assists decisive actions and
minimizes possibility of risk occurrence.
15.
In conveyancing transaction, FSRA has three ethical principles given below:
First principle: Equitability as per which conveyance needs to follow the aspirational standards
and acts as a first point of reference.
Second principle: Avoidance of conflict of interest
Procedural principles: Transparent allegation and compliance with ethical principles
In order to mitigate the possibility of conflict of interest, it is the most important
requirement for the agent to avoid any personal interest to make a secret profit. According to the
statutory requirement of Criminal Code Amendment Act 2000 and Crimes Act 1958, it is
necessary for the agent to fully disclose all the key principles of the material facts to the client. In
case as working as trustee, he or she is not allowed to derive any direct or indirect benefit from
the office beyond reimbursing just the out of pocket expense and remuneration which is a part of
fiduciary duty (Gretton and Steven, 2017).
Considering Conveyancers Act 2006, section 49 applies on conflict of interest. In
conveyance work, it is the duty of licensee must aware client with all the actual or future conflict
of interest that may take place in relation to the transaction, otherwise, penalty of 120 will be
charge. Subsection 2 states that if in any circumstance, conflict arises, and then it must be
immediately disclose to the client in written and in prescribed form. Schedule 1 rule 9 of the law
states that licensee cannot accept client instructions to carry out conveyancing work otherwise,
he or she would place himself or herself in conflict of interest with client. In order to avoid the
possibility of conflicts, section 947C(2)e of Corporation Act requires to disclose all the benefits
received in written. Moreover, ASIC Act 2001 prohibits to disclose any deceptive and

misleading conduct under S12DA and obliges financial adviser to not disclose any misleading
interpretation under section 12DB. In line with section 12ED, they are liable to perform due care
and skill in service rendering process. Approval to proceed needs to be received that comprises
all the details about the potential conflicts along with the contingency plans (White, 2016).
16.
Due to lack of expertise in all the fields, it is necessary to use referrals and obtain advice
from the qualified practitioner in the relevant area so as avoid bringing a small issue into legal
proceeding. As per Conveyancers Professsional Conduct and Trust Account and General
Regulations 2008, rule 4, a licensee must only perform conveyancing work in which he ior she is
competent enough while for such areas outside his or her competency level, advice must be seek
from the outsiders. For instance, in order to assure correct valuation and verification of the value
of the property, advice can be sought from accountant. Besides this, considering the complexity
of the legal matter, licensee can obtain advice from the senior conveyancing expert. In addition,
solicitor, banker or real estate agents are the professional experts who have profound knowledge
and competency in their relevant field hence, advice can be sought from him.
17.
There are number of professionals involved in the sale of land transactions. Each play
different role that provide their opinion in the formal legal proceeding. In legal matter,
professionals include accountant, estate agent, solicitor, bank and insurance agents whose roles
are explained below:
Accountant: The main role of the accountant is to verify the value and the details of the
transaction including entity and small business statement that must be necessarily signed by
accountant. As per the section 52 of the Conveyancer Act 2006, a statement in a definite form
must be send to the purchaser by a person who is seeking to dispose off a small business which is
the business that total sales value does not exceed $200,000 (Kamyabi and Devi, 2011).
Estate agent: Estate agent provides details of suitable property, negotiate on the behalf of
buy, carry out background check for the property and bid for auction also. On the other side,
seller’s agent role is to appraise property, obtain and list property, introduce prospective buyers,
overseeing and negotiate sales terms as well.

Solicitor: Advice is being sought from the solicitor on the specific aspect of the
transaction because they have sound knowledge and proficiency in their respective field (Klyver
and Hindle, 2010).
Bank or finance company: Money is raised from the financial institutions like banks.
They may impose certain specific conditions with which client must be familiar.
Insurance agents: It is also necessary to take sufficient insurance by the buyer. Insured
individual or corporation will have appropriate legal liability and managed assets. There will be
influence of brokers who will facilitate the accurate insurance policies which will be helpful to
the entity in terms of having cost effective insurance packages.
18
The implication of code of practice in the organisational practices is quiet fruitful and
profitable for the government in relation with facilitating the appropriate information regarding
the health and safety while performing the work. Therefore, there are practical guidance which
are provided to the employees and managers in the firm to achieve the sufficient health and
safety with consideration of all the legislations. Thus, this code of practice involves various
funnelling strategies such as:
 Managing workplace environment such as hearing loss and noise distractions.
 Labelling of the workplace hazardous chemicals
 Techniques of managing and safely removing the asbestos in workplace.
 Maintaining the healthy work environment and facilities (Codes of Practice, 2015).
 Safe transportation of the radioactive material
However, the motive behind the implication of the code of practice in the entity is to
improve the knowledge and concerns of the employees towards health and safety at the
workplace.
19
To make any financial transactions there is need to have the proper paper work which
will be determined as VicRoads. However, the framework of this from is that it involves all the
relevant information which are based on buying, selling and transferring of any property.

Moreover, it will be known as an inquiry form which contains all the legal informations
regarding the property. However, there are various requirements in the form which are need to be
meet by the person which will be helpful to the local area authority to approve the proposal.
There has been fulfilment of the forms from various parties such as section 32 of the Sale of
Land Act, 1962 is relevant with the vendor's statement who is making the sale of land. This form
requires all the necessary details to be mentioned including the payments made by an individual.
20
In relation with making the purchase of property on joint basis or individually. However,
in relation with purchasing a House on the basis of combined contribution there is need to have
signed confirmation of the documents by all the parties. Therefore, in relation with signing the
contract on behalf of all the partners there is need to have presence of all the individuals which
are involved in the agreement. Thus, due to any reason a person is not available at the time of
signing the agreement there is need to give them a notice and make them aware of the contract is
being taking place. However, there are various terms which will be beneficial in analysing the
legislations such as:
Joint Tenant:
This legislation technique is helpful in facilitating the adequate rights and obligations to
the parties who are involved in the purchase of property on joint basis. Thus, the joint tenancy
will be helpful for the firms in terms of analysing the rights and duties of all the parties who are
involved within contract (Joint tenants, 2017). There are several special rights which are
assigned to the people such as if a one person dies than automatically the ownership of the
property will transfer to the another person. On the other side, it can be said that they will have
equal rights over the property and are equally liable in making the payment of the taxes.
21
When the transfer of ownership is taken place and has the lawful consideration in the
transferred title deed than the law allows the owner to send the notice to the tenant within 60
days of period to vacant the place. Therefore, after completion of the 60 days period the tenant
did not vacant the place than the property will be demolished, the nature of property will be
changed it can be in use of any other purpose rather than rented residence. It will be fully
occupied by the landlord or any first degree relative or nominee of the landlord (notice to vacate,

2017). The proper will be sold to another person, there ill be starting of the repair and
maintenance work without any legal restriction as well as it can be used for the public purpose.
22
A pre contract checklist: These are the checklists which are need to be signed by all the
parties who are having their involvement in the contractual agreement. However, it consists of all
the relevant information such as costs, investments and the ethical consideration. Thus, it also
contains the legal approval for the local area authorities and signatures of various legislatures.
Standard Agreement: The authentication of the agreement needs the adequate
consideration of all the parties and their understanding towards the terms and conditions. There
will be brief discussion over the costs and monetary transactions which were going to be made
by these professionals. The contract must be signed by all the parties which are having the direct
or indirect involvement in the transactions.
Standard Costs Disclosure: It includes the presence of two form which has involvement
of all the costs and expense which are going to be incurred by them in context with the
agreement. It also involves the various charges such as GST and relevant taxes which are to be
paid by the clients.
W1
Prospective and procedure of taking an interview of a new client:
To analyse the requirement of clients as well as their ability in making payments in the
proposed contract there is need to have an appropriate interview of the clients. It will be helpful
in terms of gaining the information or personal details of the clients such as name, address
contact details, financial details such as bank statement and the employee pay scale which will be
helpful to them in terms of claiming the person for any breach of the contract. However, there
will be involvement of various legislative consideration such as records of insurance policies,
securities like bonds, dividends and equity. The laws such as Commercial law, intellectual
property, General Corporation Law, Environmental protection law, Toxic torts, taxes, real estate
etc.

W2
Non-compliance with the applicable statutory principles and legislation threaten the
reputation and may cause fine and penalties due to avoidance of law.
W3
Federal government regulates and manages business entities to assess that how they
maintains personal or client-specific information. According to the Privacy Act 1988 and later
amendments, the core of the act is how financial institutions must disclose, collect and store
confidential and sensitive information (Kerr, 2014). The act also highlights customer’s privacy
rights. In this regards, a 100-point identity check is necessary when a new account is opened and
in order to pass it, it is important for the client that he or she must achieve points up to or over
100.
Privacy act obliges to store client’s confidential information to keep it away from the
unauthorized access complying with following provisions:
 Secure locking of all the files which contain client specific information
 Do not disclose client relevant details to the external party without the permission
 Do not send unasked material unless client had sought for advice
W4
Closed questions:
1. Do you want to get an insurance protection?
2. Do you well understand our cost structure?
Open questions:
1. What kind of conveyance services would you like to have?
2. Where would you like to find new property?
Leading question
 Have you ever register any complaint with the local council in relation to any matters include
building works, noise or any other?
Double questions
 Does the property get benefit of any of the following warranty, guaranty or insurance coverage?
If yes, kindly provide us the copy?
1) New home warranty
2) Rood lights, glazed doors, double glazing

3) Roofing
4) Electrical work
5) Central heating
6) Timer infestation
7) Others
W5
After receiving authorization to proceed from client, conveyancer needs to proceed with the
transaction requiring by getting final approval. Authority to proceed that authorizes conveyance to work
on the behalf of the client includes fee disclosure, pricing and contingency plan. All the requirement must
be detailed in the file notes and documented accurately.
 Obtaining written formal agreement to the suggested solution that is confirmation notice
 Explaining all the fees and cost that client will need to pay and confirming their understanding
 Explaining time frame for the processing & contract execution
In this respect, in small organization, information must be second checked by the person whereas
in large companies, a separate compliance committee or system is created who is liable to confirm the
accuracy.
W6

W7
A Electronic computer management system:
The influence of computer devices in the business operations which will be helpful in
keeping the records of all the transaction from each period since the business initiated trading. It
also gave the reminders to the managers in terms of analysing the accounts and making the audit
of the accounts (Content management system, 2018). The cloud computing technique will be
beneficial for the professionals in terms of operating the business anywhere or everywhere.
B. Confirmation of the term engagement:
These are the letters which are generally used by the financial, accounting and law
consultation firms. It includes a written agreement and letter which confirms the exchange of
various compensation.
C File notes:
To keep the record of all the legal information regarding any contract which will be
helpful for the future. It will help in claiming the person with consideration of all the legal and
concrete evidences.
W8
Terms Explanation
formal contracts The contracts which were on written format
Agreement The term with confirms the contract between parties
contract of record A contract which is adjudicated by the court.
unenforceable Unlawful activities
enforceable Lawful activities
void Unlawful activities which are totally illegal
offer A proposal for making the contract
intention to create legal relations Legal binding between parties involved in the contacts
objective test To analyse the individual characteristics in terms of financial

capacity.
acceptance The approval of the proposed contract
offeror An individual who proposed the contract
offeree An individual who accepts the proposed contract
counter offer An offer over an offer
conditional contracts Involvement of terms and conditions
conflict of interest The term where the motive and aims of all the parties differs
from each other.
invitation to treat It is a technique of expressing the own feeling or willingness
to negotiate over the contract.
communication of acceptance Providing the information that one has accepted the proposed
agreement
termination of offer Cancellation of the agreement
capacity To analyse the capacity of making the contract or paying the
consideration.
adequacy of consideration The considerable amount must be proper and appropriate
consideration Something in exchange of an agreement
specific performance The remedies will be awarded in towards the damages in
between contract.
quantum meruit The service will be made in against the legal enforceability of
the agreement.
injunction It and authenticated warning
beneficial services Services which will be profitable to all the parties.
necessaries The influence of necessary terms and conditions while
making contractual agreement.
non est factum The invalidation of the written agreement as the mistakes

made by defended party while signing it.
mutual mistake Bilateral mistakes in terms of acceptance and offering an
agreement.
mistake Signing parties make the mistakes in the written documents
regarding personal details.
fraudulent misrepresentation Intentionally presenting the wrong information regarding
products and services.
duress Threats
misrepresentation Presenting the wrong information regarding any product or
services
rescission Revocation and cancellation of the agreement
conditions and warranties Implication of the terms and consideration to set the
warranties.
undue influence In proper attention while making contract.
option Several options for considerations
breach of contract The cancellation of the contract in unlawful manner.
implied terms Involvement of all the rules and laws to practice the contract
doctrine of frustration The contract which are unlawful and impossible to perform.
repudiation of contract A refusal reaction towards performing the duties.
mitigation of loss Suffering party will have remedy in the amount of losses
faced by him.
causation Causing damages to the innocent party due to unlawful acts
made by a person
record keeping Keeping the record of all confidential details of parties
involving in the contract.
liquidated damages The financial damages such as capital loss.

W9
Letter of introduction:
It is letter which represent the personal details of a person who is involved the
agreements.
Disclosure of costs:
The disclosure of all the costs which are going to be incurred in the agreement.
Letter of engagement:
The framework of all the contract including consideration details plus the duration.
REFERENCES
Books and Journals
Abbey, R. and Richards, M., 2017. A practical approach to conveyancing. Oxford University
Press.
Combe, M.M., 2017. Scottish Conveyancing Legislation.
Gretton, G.L. and Steven, A.J., 2017. Property, Trusts and Succession. Bloomsbury Publishing.
White, D., 2016. A Personal Perspective on Legislation: Northern Milk Revisited-Soured or Still
Fresh. Victoria U. Wellington L. Rev. 47. p.699.
Brennan, G. and Casey, N. eds., 2014. Conveyancing. Oxford University Press, USA.
Kerr, O.S., 2014. The Next Generation Communications Privacy Act. University of Pennsylvania
Law Review. pp.373-419.
Kamyabi, Y. and Devi, S., 2011. Use of professional accountants' advisory services and its
impact on SME performance in an emerging economy: A Resource-based view. Journal
of management and sustainability. 1(1). p.43.
Klyver, K. and Hindle, K., 2010. THE ROLE OF'PROFESSIONAL ADVISORS ON
FINANCIAL MATTERS'IN ENTREPRENEURIAL NETWORKS. Journal of
enterprising culture. 18(01). pp.1-27.

Sihombing, J.E. and Wilkinson, R.M., 2011. A Student's Guide to Hong Kong Conveyancing.
LexisNexis.
Ojienda, T.O., 2013. Conveyancing: principles & practice.
Sandberg, H., 2010. Real estate e-conveyancing: vision and risks. Information &
Communications Technology Law. 19(2). pp.101-114.
Reid, K.G., Gretton, G.L. and Barr, A.R., 2010. Conveyancing 2009. Avizandum Publ..
Ge, W., Koester, A. and McVay, S., 2014. Assessing the Accuracy of Small Firms' Internal
Control Disclosures. Working paper, University of Washington and Georgetown
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