A custodian is not ordinarily responsible to the owner of the chattel entrusted to him in case of its destruction by fire1, unless he has deviated from the terms of the bailment or broken his duty of care, or undertaken some special contractual responsibility covering the particular event. If, however, he insures the chattel he has such an insurable interest in it that, as against the insurers, he is entitled to recover its full value2. A custodian who recovers insurance money occupies the position of a trustee to the owner of the chattel covered by the insurance for its
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IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal system of the religion of Islam that sets out a system of duties or code of conduct for individuals to follow so that they may live their life in a
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
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
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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