Where the agent is entitled to sue on a contract and to a lien on the subject matter, the right to sue is not revocable by the act of bankruptcy of the principal until the claim secured by the lien is satisfied1.
A factor's authority to sell, however, is not irrevocable merely because he has made advances on the goods to his principal. The making of advances may, however, be a good consideration for an irrevocable authority to sell, provided that there is an agreement to that effect; such an agreement may be inferred from the circumstances
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Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
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