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Adapting share purchase agreements to Scots law: drafting amendments, CTPRS third party rights, assignation, execution, governing law, and Scottish property warranties and schedules

Precedents
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Date provision

Substitute the date clause in the share purchase agreement (SPA) with the following updated wording to read: This Agreement is delivered on [ insert day and month ] 20[ insert year ]

Recitals

Recital (B)

Remove ‘legal and beneficial’ from Recital (B) entirely.

Definitions

Revise the following existing definitions set out in clause 1 (Definitions and interpretation) of the relevant precedent SPA (where used in the SPA):

Definition of ‘Business’

Replace ‘the City of London’ with ‘[ Edinburgh OR Glasgow OR Aberdeen ]’ instead.

Definition of ‘CRTP’

Replace the definition of ‘CRTP’ with the following new definition:

  • CTPRS means Contract (Third Party Rights) (Scotland) Act 2017;

Definition of ‘Encumbrance’

  • Delete ‘assignment’ immediately preceding ‘right of first refusal’, as Scots law uses assignation rather than assignment.
  • Delete ‘legal or equitable’ immediately preceding ‘third party right’, as Scots law does not recognise this separation of ownership...
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Web page updated on 22/05/2026

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