If the Secretary of State has grounds to suspect that any equipment or building is a chemical weapons production facility1, and there is at least one person who falls within the relevant provision2, the Secretary of State may serve on any person falling within that provision a copy of a notice3 which:
(1) describes the equipment or building and states its location4;
(2) states that the Secretary of State suspects that the equipment or building is a chemical weapons production facility and gives the reasons for his suspicion5;
(3) states that he is considering whether to require the equipment
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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