If he has surplus rents in hand after satisfying his interest, the mortgagee in possession can pay them to the mortgagor, provided that he has received no notice of any subsequent incumbrance, and neither he nor the mortgagor is liable to account for them to a subsequent incumbrancer1. This is in accordance with the rule that the mortgagor is not bound to account for rents which the mortgagee allows him to receive2. The rule applies to a mortgage for a term3 and of a life estate4, and notwithstanding that a receiver is in possession appointed otherwise than on the
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The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these to the company's or individual's creditors. Office-holders have various duties and powers in order to ensure that they do this. For
This Practice Note considers the meaning and use of conditions precedent in commercial arrangements. It also considers typical conditions precedent and drafting issues.What are conditions precedent?A condition precedent in a commercial contract details an event which must take place before:•a
Case number [insert number][In the principal registryORIn the [insert court location] FAMILY court]Sitting at [insert place]Notice of actingBetween[insert petitioner name]Petitionerand[insert respondent name]RespondentTake notice that we [insert name of firm] have been appointed to act as the
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
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