Answer both parts of this question. Each part is worth seven and a half marks each.
(a) Describe the features of the Torrens Title system of land registration and compare them to the features of Old System Title? List the advantages of Torrens Title over Old System Title
(b) Harry mortgages his house to Sly and defaults under the mortgage. Sly wishes to exercise his mortgagee's power of sale under the mortgage and wants to sell the house to his girlfriend Rachel. What do you think of Sly's plan? Advise Sly in relation to his powers and obligations as a mortgagee in this situation. Refer to case law in your answer.
Claude and Jacky have set up in partnership together and jointly purchase premises from which to run their business. They engage an insurance broker to arrange the necessary property insurance, complete a proposal form (which is accepted by the insurer) and give the broker the money for the premium. Six months later fire causes extensive damage to the premises. The insurer refuses Claude and Jacky's claim on the following grounds:
(a) The broker failed to pass on the money for the premium to the insurer.
(b) Claude and Jacky did not own the premises on the time the insurer accepted the proposal. Their contract for the purchase of the premises was not completed until one week later. Claude and Jacky therefore, lacked an insurable interest.
(c) At the time of completing the proposal, Claude and Jacky failed to provide an answer to a question about smoke alarms installed in the premises. In addition, Claude failed to disclose that five years ago his wife, Gloria, had been convicted of burglary. Jacky has never met Gloria and was unaware of this incident in her life.
Discuss the extent to which each of the above represents a valid ground for rejection of the claim.