A minor1 cannot hold a legal estate and hence cannot create a legal mortgage of land2. A minor can avoid a contract to create a mortgage or charge3 or a charge over his equitable interest until a reasonable time after attaining majority4. He can, however, ratify such a transaction after attaining his majority. Where a contract is unenforceable against a minor, or he repudiates it, because he was a minor when it was made, the court may require the minor to transfer any property acquired under the contract or any property representing it
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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
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
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