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Conclusions of Missives (and Missives and Missives of Sale) meaning
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What does Conclusions of Missives (and Missives and Missives of Sale) mean?
In Scottish conveyancing practice, “missives” are the formal letters exchanged between solicitors that together form the contract for the sale and purchase of heritable property (“missives of sale”). “conclusion of missives” is the point at which those letters result in a binding contract—typically when an offer and any qualified acceptances have been finally agreed so that all essential terms are settled without outstanding qualifications. The terminology is not defined by statute; it derives from Scots contract law, case law and established conveyancing practice.
Key features: missives record essential terms such as parties, property (subjects), price, date of entry/settlement and any Scottish Standard Clauses. After conclusion, the parties are legally obliged to settle; remedies for breach include damages and, where appropriate, specific implement. Settlement then follows by delivery of the disposition and payment, with any standard security granted at that stage.
Usage is jurisdiction-specific: “missives” and “conclusion of missives” are Scots law concepts. The nearest equivalent in England and Wales, Northern Ireland and Ireland is “exchange of contracts” for the sale of land; the mechanics and terminology differ, but the practical effect—a binding contract prior to completion—is broadly comparable.
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View the related Practice Notes about Conclusions of Missives (and Missives and Missives of Sale)
PRACTICE NOTES
Glossary of Scottish Insolvency Law Terms with England and Wales Equivalents
This is a glossary of common words and expressions used in Scottish insolvency law with the nearest England and Wales insolvency law equivalent (where relevant) Absolute insolvency Meaning: When a person’s liabilities are greater than the overall worth of their assets. Nearest English equivalent: Balance sheet insolvency. Accountant in Bankruptcy (AiB) Meaning: A Scottish Government agency overseeing the regulation of personal bankruptcy (sequestration and Protected Trust Deeds) in Scotland, and able to serve as trustee in sequestrations where no insolvency practitioner is appointed. It also maintains records of corporate insolvencies in Scotland (receivership and liquidations only) but does not perform the role of Official Receiver. See Practice Note: Scotland: the Accountant in Bankruptcy. Nearest English equivalent: N/A. Accountant of Court Meaning: A court-appointed officer within Scottish Courts and Tribunals who administers funds consigned to the Accountant of Court pursuant to a Court of Session interlocutor or during liquidation proceedings. They oversee Judicial Factors or Administrators appointed by the Court to manage estates...
21 May
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View the related Precedents about Conclusions of Missives (and Missives and Missives of Sale)
PRECEDENTS
Scottish heritable development site acquisition: title due diligence, searches, planning, environmental, LBTT and missives—main report
To: The [ directors OR partnership ] [ Insert the Buyer’s name, address and (if applicable) company registration number ] Dear [ insert organisation name ] [ Insert the name and address of the Property ] (the 'Property') 1 Scope of this report and reliance We have prepared this report solely for your benefit in connection with your intention to purchase the Property from [ insert name and address of Seller ] (the 'Seller') for £[ insert price ] [ plus VAT ]. You have informed us that the acquisition is for development of the Property. Our conclusions are based on our examination of the Seller’s title, the responses to enquiries provided by the Seller, and the outcomes of relevant searches. The findings of our review are set out in this report, which consists of this letter and the annexures. This report may not be shared with, or relied upon by, any other party without our prior written consent...
22 May
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