These are:
a) where the contracting parties give a binding commitment in the contract that they will not cancel or modify the third-party right (section 3(2));
b) where the third-party right becomes enforceable only after the occurrence of some event (it is a conditional right), and that event then happens (section 4);
c) where the third party is notified of the right by a contracting party and the parties subsequently cancel or modify the right (section 5);
d) where the third party acts in detrimental reliance on the existence of the right, with the knowledge and acquiescence of the contracting parties, or such activity could have been foreseen by them, and the cancellation or modification of the right would have further adverse effects on the third party (section 6).”viiiScottish Law Commission written submission to the Delegated Powers and Law Reform Committee
The Committee welcomes the abolition of the irrevocability rule and the flexibility the new...