'Barratry' is defined as: (1) a deliberate act or omission by the master, crew or other servant of the owners; (2) which was a wrongful act or omission; (3) to the prejudice of the interests of the owner of the ship or goods (whether or not such prejudice was intended); and (4) without the privity of the owner; and in order for the act or omission to qualify as wrongful for the purposes of head (2) it must be: (a) what was generally recognised as a crime, including the mental element necessary to make the conduct criminal; or (b)
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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:
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
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well
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