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Brexit legislation tracker

This Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the UK’s withdrawal from the

Deeds

Under English law legally binding agreements can be made orally, in writing or by deed.This Practice Notice considers the circumstances in which a

General principles of insurance contract law

What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds

Assignments by way of security

Assignments by way of security can take different forms and it is important to understand how they are created and their effect. Security over choses

Practice notes

Registering security at Companies House

Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus on execution of documents and company filing and...

15th Oct

Practice notes

Legal opinions—uses, scope and structure

Legal opinions are used in the vast majority of financing transactions. They are usually either a condition precedent to funding or a condition...

8th Oct

Practice notes

Taking a guarantee or third party security from an individual—undue influence

Guarantees (see Practice Note: Guarantees) and third party security (see Practice Note: Third party security) from individuals are relatively common...

29th Sep

Practice notes

Conditions precedent

In financing transactions, conditions precedent are the conditions that need to be fulfilled for funding to occur.This Practice Note explains:•the...

26th Sep

Practice notes

Key features of debentures

Debentures are used in many types of financing where it is desirable to take security over all of the assets of a particular entity. They are a form...

26th Sep

Practice notes

What is set-off and when is it available?

Set-off is a complex yet important concept in legal proceedings generally and for many different types of transaction.Independent set-off and...

26th Sep

In-house

Practice notes

Fixed and floating charges

There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...

26th Sep

Practice notes

Taking security over land

Land (or real property) is commonly offered as security for a loan. In this context, land has more relevance than some other assets because it can be...

26th Sep

In-house

Practice notes

Perfecting security over land and registering security at HM Land Registry

Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...

26th Sep

Practice notes

Guarantees—key cases

This Practice Note sets out certain key cases and associated relevant content in relation to guarantees. The cases are divided by topic area and...

25th Sep

Practice notes

Enforcement—debentures and floating charges

What is a debenture?In the context of secured lending, the term 'debenture' means a form of security agreement that grants security interests over a...

25th Sep

Practice notes

Taking security over contractual rights

Contractual rights are a type of chose in action, ie something that is recoverable by legal action as opposed to something that is physically...

25th Sep

Practice notes

Taking security over receivables

In commercial lending transactions receivables are typically offered as security:•as part of a package of security over the whole of a company's...

25th Sep

Practice notes

Types of security

A lender's primary concern is that it is repaid. Even if a lender obtains a judgment for payment of the sum owed to it by its borrower, this does not...

25th Sep

In-house

Practice notes

Types of set-off

There are five main types of set-off:•independent set-off (sometimes known as legal set-off or statutory set-off)•transaction set-off (also known as...

25th Sep

In-house

Practice notes

Guarantees

Guarantees are typically used in banking transactions as a form of collateral for a debt. In such circumstances, they are a contractual arrangement...

25th Sep

Most recent Coronavirus (COVID-19) content

Practice notes

Coronavirus (COVID-19)—summary of government support

ScopeThis Practice Note, produced in partnership with James Collis and John Alderton of Squire Patton Boggs LLP summarises the various schemes and...

2nd Sep

COVID-19

Practice notes

Coronavirus (COVID-19)—implications for derivatives transactions

Coronavirus (COVID-19)Lawyers across the world are currently grappling with many common areas of concern in connection with the coronavirus (COVID-19)...

26th Sep

COVID-19

Practice notes

Coronavirus (COVID-19)—Banking & Finance frequently asked questions

Lawyers across the world are currently grappling with many common areas of concern in connection with the coronavirus (COVID-19) pandemic. The...

26th Sep

COVID-19

Q&As

Can my force majeure clause protect me against the economic impact of coronavirus (COVID-19)?

Is there a force majeure event?In English law, the expression ‘force majeure’ does not refer to a legal doctrine. Instead, the expression ‘force...

28th Sep

COVID-19

Q&As

What risks should lenders consider when granting unconditional amendments and waivers?

Amendment and waiver requests are an important aspect of managing any facility for lenders.During the life of a facility agreement, the needs of a...

28th Sep

Q&As

Can an agreement be terminated for frustration due to coronavirus (COVID-19)?

What is the doctrine of frustration?If the contract does not include a force majeure clause or it does but the applicable force majeure event is not...

28th Sep

COVID-19

Q&As

If I can’t meet the people I am contracting with to sign a contract, how do I execute a contract by virtual means?

Many businesses are closing their offices or recommending their staff work from home in an attempt to slow the spread of coronavirus (COVID-19). This...

28th Sep

Q&As

What is the Coronavirus Business Interruption Loan Scheme and how can borrowers access it?

What are the key features of the Coronavirus Business Interruption Loan Scheme?The government has announced a number of measures to assist businesses...

28th Sep

COVID-19

Q&As

Can a signed scanned version of a contract or deed be relied upon as opposed to the signed original?

We have assumed that the question relates to the execution of a scanned version of a contract or deed.We would like to refer you to the following...

28th Sep

Q&As

What are the implications of coronavirus (COVID-19) for MAC clauses in facility agreements?

Why are material adverse change (MAC) clauses in the spotlight?The coronavirus (COVID-19) outbreak has already caused some businesses to fail and...

28th Sep

COVID-19

Q&As

Can a deed by a company be executed in counterpart in order to comply with section 44 of the Companies Act 2006?

Contracts and deedsThere are two types of written agreement:•simple contracts. No particular formalities are required. There must be consideration and...

Produced in partnership with Lynne Counsell of 9 Stone Buildings 28th Sep

Q&As

I need to get a stock transfer form executed and stamped during the COVID-19 crisis—are there any differences from the usual process I should be aware of?

Following completion of a share purchase transaction, the stock transfer form which effects the transfer of the sale shares from the seller to the...

28th Sep

COVID-19

Q&As

Does coronavirus (COVID-19) qualify as a biological contamination for the purposes of a definition of force majeure? Force majeure is defined as a list of events and does not have any broader wording such as ‘without limitation’ or similar?

We have assumed that the clause in question is included in a business to business contract.You may find the following materials useful:•Practice Note:...

28th Sep

COVID-19

Q&As

Is there any specific law or regulations in force that created the Coronavirus Business Interruption Loan Scheme scheme? If so, what are they? Or is the British Business Bank the only source of the scheme?

While there is no specific primary legislation in relation to the Coronavirus Business Interruption Loan Scheme (CBILS), section 75 of the Coronavirus...

28th Sep

COVID-19

Q&As

Can I rely on ‘Certificates of Force Majeure’ issued by the Chinese government confirming that coronavirus (COVID-19) is force majeure as a force majeure event under English law?

While a force majeure certificate from China could not bind the English courts in their determination of whether such an event had occurred for the...

Produced in partnership with Richard Colbey of Lamb Chambers 28th Sep

Q&As

Is there a requirement under law that a deed has to be physically dated (ie printed out and dated with agreement by all parties who have signed remotely), or can the dating also be done electronically after parties have signed in counterpart?

We have assumed that: the query relates to the execution of a business-to-business commercial agreement subject to the laws of England and Wales.In...

28th Sep

Q&As

My company needs to enter into a document as a deed but everyone is working from home. Is it possible to execute a deed by virtual means?

Many businesses are closing their offices or recommending their staff work from home in an attempt to slow the spread of coronavirus (COVID-19). This...

28th Sep

Q&As

Where a document forms a schedule to an agreement, if the document in the schedule is signed rather than being printed as a separate agreement and then signed, is it a valid execution of that document?

This question envisages a written agreement, which contains, in a schedule, the form of a further agreement, which the parties may sign on some future...

28th Sep

Q&As

What are the implications of the coronavirus (COVID-19) restrictions for directors’ board meetings?

Unlike company general meetings and annual general meetings, there are no provisions in the Companies Act 2006 regulating board meetings or...

28th Sep

COVID-19

Q&As

Can an individual based overseas execute an English law power of attorney as a deed using an electronic signature?

An instrument is validly executed as a deed by an individual only if it is signed by them in the presence of a witness who attests the signature. The...

28th Sep