If a mortgage contains an unqualified stipulation that the principal money is not to be called in for a certain time, it is binding even if the interest falls into arrear, but in general the understanding of the parties is that such an indulgence is conditional upon punctual payment of the interest1; and, upon an agreement for a mortgage with a stipulation that the principal is not to be called in for a given period, the mortgage must be framed to make postponement conditional upon punctual payment of interest2. Where, under an agreement to forgo the right to call
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BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on e-money requirements, see Practice Note: Impact of Brexit: Payment services and electronic money directives—quick
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
Involuntary manslaughter—introductionManslaughter can be classified as either voluntary or involuntary. Voluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element—hence the label voluntary manslaughter) but which are reduced to
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