A bond is a document made by deed whereby a third party guarantees the fulfilment by the contractor of the contract1. In contracts for construction work, bonds will often support payment or performance obligations2. Most commonly, a performance bond is given whereby the bondsman promises to pay up to the amount of the bond if the contractor fails to perform his contract. It is a matter of construction3 whether this amounts to a default4 or 'on demand' bond5. In all cases such bonds are surety contracts. Thus, unless a bond expressly allows for variations in the terms of the
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
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