Gazumping And Gazundering

March 21, 2017 2:41 am | No Comments

Gazumping And Gazundering

by

Richard Godden

By Richard Godden

There are times when living in Scotland, rather than England, has its disadvantages. The weather, for a start. And for those of us who live in the central belt, STV’s continual failure to get any of the good programmes being shown everywhere else. But when house buyers come to see a solicitor in Scotland, a question they often ask is “What if I’m gazumped?” Then we can proudly say: don’t worry. It’s unlikely to happen in Scotland.

Scottish clients have often seen article after article in the press complaining about this English practice of gazumping, whereby the owner of a house accepts an offer to buy his property “subject to contract”. Nothing is binding until contracts are signed (or “exchanged”) between the buyer and seller. It can take as long as 10 – 12 weeks for these formalities to be completed, and if the seller is tempted by a higher offer during this period he simply cancels the deal, leaving the buyer not just disappointed but also out-of-pocket, as he will probably have paid out fees to his solicitor and surveyor.

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When property prices are in decline, as they are now, the practice of gazumping becomes rare. The buyer’s revenge of “Gazundering” then becomes a problem, as buyers can wait until everybody is poised to exchange contracts before lowering the offer on the property, threatening the collapse of a whole chain of house sales waiting for the deal to go through. But, as sellers will be glad to hear, gazundering is unlikely to happen in Scotland either.

In Scotland, once you have found the house you like, you instruct your solicitor to note your interest. If a number of buyers are interested, there is usually a process of sealed bids in which each prospective buyer puts in a blind offer of a certain price by a closing date, and when the bids are opened, the highest one wins. A series of letters known as missives are then exchanged ironing out the deal, and the matter is then binding on both sides, at a much earlier stage than in England. Most of Scotland, and in particular Edinburgh and Glasgow, have “Standard Missives” which means that the contract or missive requires a minimum of negotiation and allows contracts to be exchanged without delay. There is no second stage of “exchange of contracts.”

Of course, it is always possible that one party may back out before missives are finished. However, conclusion of missives tends to take place quite quickly, and before either side has incurred much expense, so if this happens it is not usually serious.

Scottish clients interested in buying properties in England may like to know that changes are being considered for England, and draughtsmen are working on a new style of contract that will deter buyers and sellers from backing out of the deal, providing a lock-out agreement that would, among other things, stop gazumping and gazundering. But it would be voluntary, not a requirement for the buyer and seller to sign up.

This contract would require both parties to continue with the house sale at the agreed price subject to certain conditions: if, for example, the property were found to be suffering subsidence, the contract would be nullified. But if the market suddenly dropped and the buyer wanted to reduce the price, the contract would hold firm and the buyer would either have to continue with the deal at the agreed price, or lose a deposit for withdrawing from the deal. The size of the deposit would vary from contract to contract, but would always be big enough to stop people from dropping out without good reason.

All this is in the future. For now, gazumping and gazundering will continue to be a problem in England. But, let’s not be unfair to the English. Though the press loves to talk about it, the practices are not as common as you might think. We know of cases where a seller received higher offers but stuck to the original one because he felt it was the honourable thing to do. Also, gazumping has sometimes saved the day. In cases where the original buyer has started to prove difficult or is wasting everybody’s time, endangering the whole chain of sales and purchases, he can be quickly ditched, a new buyer can step in and the whole chain can be completed.

However, it’s still good to know that in Scotland, once your offer is accepted, the deal is binding and enforceable on both sides, and neither side is going to back out of it later just because they could do better on the price.

McKay Norwell are

Edinburgh Lawyers

serving individual and business clients across Scotland. Richard Godden is a specialist

Personal Injury Solicitor Scotland

.

Article Source:

ArticleRich.com

Tuesday, January 3, 2017

A gunman shot Burundi environment minister Emmanuel Niyonkuru dead early on Sunday, local time (UTC+2).

Police said they detained a woman accompanying Niyonkuru. The 54-year-old minister was returning home for the night in Bujumbura. Burundi has seen turbulence since President Pierre Nkurunziza sought a third term in early 2015, winning it in a disputed election. Protesters claim Nkurunziza violated a peace deal and the constitution. Since then around 450 have died.

Nkurunziza tweeted his thoughts were with “the family and all Burundians”. Also detained were two security officers watching over Nkurunziza’s Bujumbura home, and the manager of a bar the minister attended regularly. Police spokesperson Pierre Nkurikiye and Nkurunziza both called the attack an “assassination”.

It is the first time a minister has died in the violence gripping the nation, which had eased in recent months. On Saturday a grenade was thrown into a church 40 km (25 miles) north of Bujumbura, wounding several. Nkurikiye said the church was illegal, and its leader was in custody.

Nkurunziza vowed the killers of Niyonkuru would face consequences.

Thursday, December 15, 2011

Villagers in the Chinese town of Wukan are now in open revolt as, in the fourth month of their land dispute with the government, they expelled all Communist Party officials. Last Sunday they also repelled an attempt by around a thousand police to retake the town using tear gas and water cannons.

Negotiations were previously ongoing over the land dispute with villagers claiming farmland was taken, and sold to private developers Country Garden, with no compensation provided to locals. However, recent remarks over the legality of the initial protests in September by a county-level spokesperson prompted a return to street protests last week in the Guangdong province town.

Mass-protests on economic grounds are frequent in China. An average of around 15,000 protests occur each month. Local officials are frequently accused of requisitioning land, using police and thugs to intimidate rural farmers and complete — often illegal — evictions. Following this, and as seems the case in Wukan, the land is sold on to local developers and entrepreneurs with no compensation paid to the evicted.

When rioting began this September in Wukan, State news agency Xinhua said that eleven investigations into forced evictions which had led to violent protests were underway. A total of 31 local officials were facing potential criminal charges, with the reported cases of land grabs a mix of “illegal” and “badly executed” evictions. In at least one case, a forced eviction resulted in the death of a 48-year-old woman.

Following on from the days of rioting over the land-grab in September, and the police’s ruthless retaking of the town of 20,000, Lufeng county government officials — in an exceptional move — commenced negotiations with representatives chosen by the villagers themselves. Until, that is, last week after a local official asserted the town’s chosen negotiators were helping “overseas forces that want to sow divisions between the government and villagers.” This prompted a resumption of protesting — including a sit-in by the villagers.

Plain-clothes police mounted an operation against the villagers last Friday, capturing five of the town’s thirteen chosen representative–negotiators. Amongst those seized was 42-year-old Xue Jinbo, who died in custody on Sunday. Villagers, including Xue’s 24-year-old son-in-law, claim he was tortured and that, when visiting the funeral home where the body is being held, his corpse was bloody and bruised, and his thumbs broken. Xinhua disputes these claims, asserting the cause of death was a heart attack; and, that this occurred following Xue confessing to criminal involvement with the September rioting.

News of the uprising in Wukan is subject to censorship in China media — including through online censorship of micro-blogging sites. The BBC reports Sina Weibo, the Chinese hybrid–equivalent of Twitter and Facebook, returns the message: “According to relevant law, regulations and policies, search results for Wukan cannot be displayed” when a search for the town’s name is made. It is being suggested that Chinese web users have switched to using the tag “WK”, which can be taken as an abbreviation of either “Wukan” or “What is going on?” And, at-present the English-language website for Xinhua returns no search results for “Wukan”, and none that are relevant to the revolt when searching for the province name, “Guangdong”.

Now under-siege from police, food and water are not being allowed into the town by Communist authorities, and residents are being prevented from leaving. Some town residents reportedly say they are able to obtain supplies from neighbouring villages, but it has also been reported Wukan only has enough supplies to last about ten days.

Sunday, April 6, 2008

Another nine games took place in the English Premier League this past weekend. Arsenal welcomed Liverpool to Emirates for round-two of their triple header, while fellow title-chasers Chelsea traveled to Manchester to take on Manchester City. In battle at the bottom of the table, Wigan and Birmingham faced off at the JJB, Newcastle welcomed Reading, and Sunderland visited Craven Cottage to play Fulham. In other matches Aston Villa took on Bolton, and Blackburn played host to Tottenham.

The 10 Best Hotels In Hawaii}

March 20, 2017 2:49 am | No Comments

Submitted by: Nia Peters

Selecting the 10 best hotels in Hawaii is not an easy task. Being a vacation paradise and with tourism and the mainstay of its economy, the islands have an extremely well developed hotel infrastructure. There is accommodation to fit all budgets. But beyond that there are hotels dedicated to honeymooners / romantic getaways, family holidays, water sports and beach activities and much more. But on the basis of guest responses and overall reputation, here are 10 hotels that should be considered by anyone planning to visit the islands. The hotels listed below are not presented in any particular order or hierarchy.

The island of Oahu has 3 hotels that fall into the best category. The Royal Hawaiian is the best known of them all. Although older than other hotels, it has recently been renovated and the results are impressive. Each of the 528 rooms and suites combines modern comfort with old world luxury. The original structure, called the Historic building offers elegant period furnishings and an aura of old world sophistication. The rooms in the newer Royal Tower all have a lanai offering a private view of the beach and ocean.

Set in 880 acres of verdant tropical gardens, the Turtle Bay resort is a true full service luxury hotel. Only 45 minutes from Honolulu, guests have 5 miles of pristine beach and 12 miles of ocean trails to enjoy. With all the comforts one could ask for and great meeting facilities, this is the perfect place for both work and play.

Those wishing to follow in the footsteps of presidents, royalty and celebrities will find the Kahala Hotel and resort ideal. In 2006 it was chosen as the best resort hotel in the state. The hotel offers a full range of activities, spas, great cuisine and extremely well appointed rooms.

On the Big Island, The Fairmont Orchid with its 540 luxurious rooms and suites offers the perfect place to enjoy a great vacation. Situated amidst 32 acres of lush greenery, the beach front property is also adjacent to a world class golf course. With nightly entertainment, great food, spas, and a range of activities, it is a complete vacation hotel.

The Kona Village Resort is the only all inclusive hotel on the Big Island. Offering rooms with all modern comforts and amenities and great cuisine options this hotel is best known for the range of entertainment and activities that are part of the all inclusive package. There is also a special childrens program to keep the young ones occupied.

On the island of Kauai, the Grand Hyatt provides all the class and comforts that the Hyatt chain is known for. Rooms have either an ocean or a garden view and have floor to ceiling windows to maximize the viewing experience. A variety of eating options, a great bar, live entertainment, the beach, golf and tennis are just some of the attractions available.

Situated atop lush emerald cliffs is the St. Regis Princeville Resort. From the hotel you will get spectacular views of crystal clear water, pristine beaches and fabulous sunsets. Luxury is exemplified by the gracious butler service. After playing golf, walking through the rainforest or spending a day at the beach, the spas are great places to unwind.

Maui is where you will find the Four Seasons resort. Guest coming here for the first time will soon understand why the Four Seasons name defines luxury and comfort. The hotel has recently be renovated and the rooms offer state of the art amenities like furnished lanais, marble bathrooms, large screen HDTVs, high speed internet and much more. And of course, the Four Seasons acclaimed cuisine. After a long day enjoying all the attraction that Hawaii has to offer, this is the place to come back to.

The Westin Maui Resort and Spa is situated on 12 acres of oceanfront property and all the 750 rooms have private balconies and classic wooden furniture to create a tropical aura. Besides all the other facilities you would expect from a world class resort, the Westin also has its own water park that is designed to be enjoyed by every age group.

Located on Mauis western coast and adjacent to Wailea beach is the Grand Wailea Resort. This 5 Diamond resort has luxurious rooms that include fully stocked refreshment centers. There is a water complex with 9 interconnected pools, besides all the other attraction a visitor would expect from a luxury resort in Hawaii. The Spa Grande is regularly featured among the best spas in America.

About the Author: Search for

Hawaii hotels

on all Hawaiian islands at

AlohaHawaiiHotels.com

.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=516744&ca=Travel }

Friday, September 29, 2006

After several laptop producers recalled a total of about 7 million products containing Sony batteries, the Sony Corporation said it will “initiate a global replacement program… in order to address concern related to recent over-heating incidents.”

Sony previously admitted the recalls announced by Apple and Dell would cost up to 30 billion yen, which is a quarter of Sony’s profits in 2005. Several news sources expect this to reflect badly on the company, as it adds to problems with the PlayStation 3 and Blu-Ray DVD. Since Dell announced recalls in August, Sony’s stock has lost almost 9% of its value.

Keeping up with competitors like Apple and Dell, Toshiba and Lenovo have started recalling laptops with the lithium ion batteries. Dell expanded its program to include about 4.2 million portables. Following Sony’s statement, Fujitsu too declared it would replace the batteries involved. A spokesperson for Toshiba added that the company doesn’t expect there to be any problems with personal computers, but it will replace their Sony batteries anyway, over customer concerns. However, the company doesn’t expect to pick up the tab for it.

A Lenovo laptop with the problem battery caught fire in Los Angeles Airport earlier this month. Consequently, Virgin Atlantic added them to a blacklist of prohibited laptops on their flights. According to Sony, microscopic metal particles are to blame for overheating and potentially catching fire “under certain rare conditions”.

The U.S. Consumer Product Safety Commission advised ThinkPad users who want to continue using their portable to switch it off, remove the battery and continue with the AC adapter and power cord.

Sunday, February 13, 2011 File:KurtBuschPole.jpg

Penske Racing driver Kurt Busch won the NASCAR Sprint Cup Series 2011 Budweiser Shootout held yesterday at Daytona International Speedway in Daytona Beach, Florida. This became his first win of the season, and his first at Daytona International Speedway. Throughout the course of the race there were four cautions and 28 lead changes among ten different drivers.

On the final lap, Denny Hamlin moved aside Ryan Newman, while doing so he moved below the double yellow line (out of bounds), which gave the victory to Busch while he settled for twelfth. Jamie McMurray, who helped Busch win the race by the draft, finished second. Newman finished third ahead of Jimmie Johnson in the fourth position. Greg Biffle was scored fifth, Jeff Gordon finished sixth, while Kevin Harvick could only manage seventh.

Jeff Burton, Clint Bowyer, and Bobby Labonte rounded out the first ten positions. Also during the race, there was an accident that included seven drivers. Dale Earnhardt, Jr., who started on the pole position, discussed the wreck as “too many race cars going for the same real estate.” Another driver, Carl Edwards, said, “We were three or four-wide back there, and I was going between the 88 and the 78, and I don’t think the 78 knew I was in there.” Edwards continued, “He kept coming down, and I just had enough of my car in there. I laid up against the 88 and then the 78 got me in the right-front, but that’s just everybody trying to get the best position they can so we can go out there and race.”

Following the race, Busch commented, “I’ve got to thank my motor department – Jamie McMurray. “When you have a friend like that in this two-car draft, that’s what it takes.” Newman commented about the race by saying it was “the most unexpected race he has ever been a part of.”

Submitted by: Terry Henman

When decorating your home it is important to maintain a good colour balance. Everyone has seen the classic show home look, with its pale beige and other typical bland and muted colours. The problem with this sort of look is that while it helps keeps things neutral and is great for attracting prospective buyers, it just does not make your house look like a home.

To truly enhance the look of your house you need to bring in to it your own sense of style. By using colours that you enjoy you can really transform an otherwise generic and bland looking house into something that really shows off your character.

‘Colourology’ has been practised for thousands of years, most famously in India with their Chakra system. It also has roots in other Eastern areas such as ancient Egypt and China, where each organ of the body was believed to be associated with a specific colour.

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The belief is that by exposing yourself to certain colours you are going to influence your bodys state, physically, emotionally, mentally and spiritually, by maintaining a healthy balance of colour you can help balance these factors of your health.

There is also colour psychology, the belief that certain colours can have influences on our mood and

blue is the colour of contentment. It builds inner connection with the people close to you, and specifically your partner. By ensuring a balance of blue in your home you will help to increase your feeling of belonging. It also signifies cleanness and tranquillity, making it a perfect choice for a bathroom or bedroom. Too much blue can give a cold feeling, or even bring about feelings of depression.

Red is the colour of confidence. It determines just how much passion and drive you have, as well as helping to increase your inner self worth. This ties in with red being seen as a very strong emotional colour, and sometimes a colour of love and romance, which makes it a great colour to use in the bedroom. Be careful with red though as it dominates any room, diluting every other colour around it. As such it should be used as an accent colour rather than a main colour in any room.

Green is the colour of self respect. It accents your self control, helping you to seek moderation in your life, as well as giving you increased will power. It is also a colour heavily associated with nature, especially lighter greens, which have a calming effect.

Yellow is the colour of development. It allows your mind to think about things that are going to happen, and allows your body to prepare for the future. It will help to set your attitudes toward meeting new people, experiencing new things as well as your own personal development. Yellow is a colour of happiness and hope, and when used correctly can bring a darker room in to the light making it a happier place to be in.

‘Colourology’ and colour psychology can be used hand in hand within your own home to help not only create the perfect mood, but also to balance different aspects of your life. It is not just large areas of colour that make a difference like the walls of a room, even smaller areas of colour can play heavily on your body and mind. Simple changes such as the colour of your living room cushions, or your duvet covers in your bedroom can have a profound effect on your state of mind.

About the Author: Terrys Fabrics offer a wide range of curtains, fabrics and

Duvet Covers

to enhance the beauty of your bedrooms

Source:

isnare.com

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isnare.com/?aid=400313&ca=Home+Management }

Monday, May 21, 2007

The Cutty Sark, one of the most famous historic sailing ships in the world, was seriously damaged by fire in the early hours of Monday morning, May 21, 2007. The 19th century ship, which is in dry dock in Greenwich, London, England, set a speed record during its working days, and has been a popular tourist attraction for many years.

The fire brigade was first called to the blaze on the tea clipper at 4:45 a.m. BST and reported that the flames had been extinguished by 7:00 a.m., but firefighters were still on the scene damping down at 8.30 a.m. The blaze was so intense that eight fire engines and 40 firefighters were sent to put out the fire. No injuries have been reported.

Cutty Sark Trust chief executive Richard Doughty said he was told the blaze was being treated as suspicious. “We’re losing history,” he lamented. “It’s unbelievable.” He went on: “When you lose the original fabric, you lose the touch of the craftsmen; you lose history itself. What is special about Cutty Sark is the timber, the iron frames, that went to the South China Sea. To think that is threatened in any way is unbelievable. It is an unimaginable shock.”

However, Doughty also confirmed that half of the ship’s planking, and all of the masts and rigging had been removed for renovations prior to the fire. The iron framework of the hull has been twisted and buckled.

The Chairman of Cutty Sark Enterprises, Chris Levitt, speaking later at the scene, said: “We had removed 50% of the planking, so 50% of the planking wasn’t on site and that’s safe and secure, and from where I stand there is not a huge amount of damage to the planking that was left on. There are pockets of charred planking and some have gone, but it doesn’t look as bad as first envisaged.”

Cutty Sark Trust curatorial consultant, Dr Eric Kentley was optimistic that the Ship is not completely devastated and can be saved. Speaking about the Cutty Sark, he said: “We will put her back together – but it’s going to take much much longer and a lot more money than we originally thought.”

The historic ship, one of London’s best known tourist attractions, has been in dry-dock in Greenwich since 1954. It is currently undergoing a £25 million renovation scheduled to last until 2009. It was feared that gas canisters used in the reconstruction work might explode in the blaze but the London Fire Brigade later confirmed that none were present, although concerns about the risk of explosion had caused some delay in tackling the fire. It is a Grade I listed monument and is on the Buildings At Risk Register in the UK.

Police believe the fire on board the ship may have begun in suspicious circumstances. They are studying CCTV footage which showed some movement around the ship in the early hours of the morning. They are appealing for witnesses who might have seen anyone near the ship or a silver car that was reported driving away from the scene.

The Cutty Sark was built in 1869 by Scott & Linton, Dumbarton in Scotland and completed by Dennys. It is the world’s last surviving tea clipper. Because the clippers were build of wood, but with a framework made of iron, they marked the transition from wood to iron. The windjammers that emerged some 30 years later were build completely of iron or steel.

The clippers were used in long-distance races between China and England, with large profits for the first ship back with the first tea of the year. The Cutty Sark sailed in the China trade between 1870 and 1877/78. She sailed in the Australian wool trade between 1883 and 1895, during which period she achieved the record breaking voyage under wind power between Australia and England via Cape Horn of 72 days in 1885.

The ship takes its name from a character in Burns‘ poem ‘Tam o’ Shanter.

Friday, October 2, 2009

Companies in the United States are shedding more jobs, pushing the country’s unemployment rate to a 26-year high of 9.8%.

The US Labor Department said on Friday that employers cut 263,000 jobs in September, with companies in the service industries — including banks, restaurants and retailers — hit especially hard. This is the 21st consecutive month of job losses in the country.

The United States has now lost 7.2 million jobs since the recession officially began in December 2007. The new data has sparked fears that unemployment could threaten an economic recovery. Top US officials have warned that any recovery would be slow and uneven, and some have predicted the unemployment rate will top 10% before the situation improves.

“Continued household deleveraging and rising unemployment may weigh more on consumption than forecast, and accelerating corporate and commercial property defaults could slow the improvement in financial conditions,” read a report by the International Monetary Fund’s World Economic Outlook, predicting that unemployment will average 10.1% by next year and not go back down to five percent until 2014.

Mark Zandi, chief economist at Moody’s Economy.com, said that “it’s a very fragile and tentative recovery. Policy makers need to do more.”

“The number came in weaker than expected. We saw a lot of artificial involvement by the government to prop up the markets, and now that that is starting to end, the private sector isn’t yet showing signs of life,” said Kevin Caron, a market strategist for Stifel, Nicolaus & Co.

Also on Thursday, the US Commerce Department said factory orders fell for the first time in five months, dropping eight-tenths of a percent in August. Orders for durable goods — items intended to last several years (including everything from appliances to airliners) — fell 2.6%, the largest drop since January of this year.

The US government has been spending billions of dollars — part of a $787 billion stimulus package — to help spark economic growth. There have been some signs the economy is improving.

The Commerce Department said on Thursday that spending on home construction jumped in August for its biggest increase in 16 years. A real estate trade group, the National Association of Realtors, said pending sales of previously owned homes rose more than 12 percent in August, compared to August 2008.

A separate Commerce Department report said that consumer spending, which accounts for more than two-thirds of US economic activity, rose at its fastest pace in nearly eight years, jumping 1.3 percent in August.

Other reports have provided cause for concern. A banking industry trade group said Thursday the number of US consumers making late payments, or failing to make payments, on loans and credit cards is on the rise. A survey by a business group, the Institute for Supply Management, Thursday showed US manufacturing grew in September, but at a slower pace than in August when manufacturing increased for the first time in a year and a half.

Stock markets reacted negatively to the reports. The Dow Jones Industrial Average fell 41 points in early trading, reaching a level of 9467. This follows a drop of 203 points on Thursday, its largest loss in a single day since July. The London FTSE index fell 55 points, or 1.1%, to reach 4993 points by 15.00 local time.

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