There can be a waiver of a debt only if the creditor is aware of his rights1. The court will not be anxious to imply waiver from a mere omission, or other circumstances, from which the intention cannot fairly be inferred2. Thus where it was provided by the mortgage deed that, as between the mortgagor and his surety, a certain part of the security given by the principal should be primarily liable to the debt, without mentioning the rest, it was held that on paying off the debt the surety had not lost, by the omission, the right to
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Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
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This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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