The illegality of an act will not of itself prevent its ratification1. Where the act of the agent is tortious, for example a trespass or an assault2, the principal may ratify and become liable but only to the extent of the acts to which the ratification relates3. The act of ratification may in itself constitute a tort by the principal; for example where the tort of conversion has been committed by the agent, any act by the principal inconsistent with the title of the third party will also amount to a conversion4. Some degree of knowledge by the principal
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
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
Commercial Property Standard Enquiries (CPSEs) are industry standard pre-contract enquiries used in commercial property transactions. CPSEs are endorsed by the British Property Federation and are free to use. The CPSEs include specific environmental enquiries at enquiry 15 and there are several
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
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