Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Short definition

What does Short mean? In legal and financial practice, being “short” describes a position where a person has net negative exposure to an asset—i.e. exposure below neutral—so that they benefit if the asset’s price falls. A short position commonly arises by selling borrowed securities (a short sale) or through derivatives that create negative exposure, such as writing options, entering into futures or forwards as the seller, or using contracts for difference or swaps. “Short” is a descriptive market term used across transactional documents, litigation and regulatory contexts. While the word itself is not generally defined in statute, short selling and net short positions are regulated....

Precedent: Short-form tripartite novation letter (England and Wales)

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Precedents

[ On the letterhead of the OUTGOING party to the ORIGINAL Contract ]

[ include name of remaining party to original contract ]

[ include address of remaining party to original contract ]

[ include name of incoming party ]

[ include address of the incoming party ]

[ Include date ]

Dear [ include names of remaining and incoming parties ],

Novation of contract

We refer to the Agreement made between [ include name of the remaining party to the original contract ] ( Remaining Party ) and [ include name of outgoing party ] ( Outgoing Party ) concerning [ include specific purpose of agreement ] [ , as varied from time to time, ] dated [ include date ] ( Original Contract ), a copy of which is attached to this Letter and initialled by the parties to this Letter...

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Web page updated on 22/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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