In planning a condition imposed on a planning permission to restrict the use of occupation of a property to a user or occupier already within the local area. Frequently used to give preference to local companies already established, operating in the area and needing more space. See USER.

A tribunal which hears appeals against existing entries on the valuation list – or against proposals to amend it. The appeal may be made by the valuation officer or by an “aggrieved person” (eg generally the occupier and/or owner of the property or the rating authority). From a local valuation court decision there is right of appeal to the Lands Tribunal. A local valuation court consists of members selected from a local valuation panel constituted, generally for county areas, under the General Rate Act 1967. See HEREDITAMENT.

A plan which, for clarity of interpretation, is of a large scale (eg 1:1250 or 1:2500) to show the position of a specific property in relation to its surroundings. Cf BLOCK PLAN; SITE PLAN.

A shop of modest size, without living accommodation attached, usually one of several in a row and run by an individual or family.

1. The power of drawing back from a bargain before anything has occurred which might confirm it in law. The term also means a place in which there is an opportunity for repentance; a penitentiary.

2. (Scotland) The opportunity to withdraw from a “contract” which is not binding on account of its informality,this right is cancelled by some form of personal bar eg reiinterventus, or by homologation, ie validation of the defective contract.

See LIBID.

See LIBOR.

In residential legislation (Landlord and Tenant Act 1954 Part 1, Leasehold Reform Act 1967 and Rent Act 1977) this means a lease for a term certain exceeding 21 years. Cf SHORT LEASE.

In insurance this means an agreement whereby someone undertakes to insure with the same insurer for a specified number of years. In return a discount in the premium is made, normally 5% for an undertaking of three years.

A professional person experienced in quantifying a loss entitlement under an insurance claim who acts for insurers but not in the capacity of an employee. His duties include satisfying himself that a claim is valid, assessing the sums properly due and agreeing a fair and proper settlement with the insured.

An experienced person who in the event of an insurance loss arising is instructed by the claimant to assist in establishing the amount of damage incurred and to negotiate the best financial settlement possible on behalf of his client.

See TEMPORARY LOSS OF PROFITS.

An article sold substantially below the normal mark-up price and often below cost in order to attract customers into a shop.

A property or chattel (or a group of properties or chattels) which is offered for sale, particularly by auction, as a single and separate entity. See LOTTING.

For a disposal, especially by auction, the division of property into parts, each of which is capable of being sold separately in a way which is thought likely to result in more favourable total price than the property would fetch if sold as a whole. In the case of chattels offered at auction it may consist of the grouping of a number of (possibly disparate) items to form lots of a practicable and convenient size. See PRUDENT LOTTING; FLOODED MARKET CLAUSE.

A casual workforce in the building industry, characterised by special arrangements for collecting income tax on earnings. Historically this has been “more honoured in the breach than in the observance”.

A contract placed with a builder at a fixed price.

At common law a period of 28 days. Astronomically a period of about 29.5 days, being the time taken by the moon to make one revolution of the earth.

A term quantifying the intensity of lighting at a given point, particularly relevant in building design. There are recommended criteria for different applications. Formerly the term “lumen”, which was approximately one-tenth of a lux, was used.