The status of minority1 as such is irrelevant to the exercise of bankruptcy jurisdiction. A minor may be made bankrupt, or may make a bankruptcy application in respect of any debt or debts which are legally enforceable against him2. At common law3 the general rule is that a minor's contracts are voidable at the instance of the minor4, but contracts for necessaries5 and contracts for education, apprenticeship and service6 are enforceable, provided that they are beneficial to the minor7.
Where a person ('the claimant') has entered into a contract with another ('the defendant'), and the contract is unenforceable against the
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Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
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Express and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made (or there may be a combination of written and oral
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