Sheppard & Cooper Ltd v TSB Bank plc

Facts

The case is the authority the lecture cites for acceleration after a demand. The lecture spells the claimant Shepherd and states a one-hour delay and a sum of £600,000 as if they were the holding. Those details are not repeated here.

Issue

How soon may a lender treat a borrower as in default after a demand for payment?

Held

A proper demand must be followed by a reasonable opportunity to pay. What is reasonable depends on the circumstances, including banking hours. The borrower does not receive a long extra period in which to raise the money.

Principle

Bank of Baroda v Panessar is the companion case. The chance is to carry out the payment, not to find new finance. A lecture that says the bank need give no time at all overstates the case.

Why it matters

Cite Sheppard, spelled correctly, for the demand principle. Do not cite the slide's hour or its figure.

For study only. By lanbuk.com. Always check current sources and consult a qualified professional.