A public company must not allot shares as fully or partly paid up for a consideration other than cash unless the consideration has been independently valued and a report as to its value made to the company within the preceding six months1. Before a building society advances money on the security of land, a written report on the value of the land and any factors likely materially to affect its value must be obtained from a person who is competent to value and who is not disqualified from making such a report
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This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely solely on the legal title. In the case of registered land, this means the entries entered on the register of title, as it records ownership of the legal
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What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
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