As regards the title to the mortgaged property, if the mortgagee has in the first instance taken an equitable title1, but with an agreement for a legal mortgage2, he is entitled to have a legal mortgage executed on request, and will be allowed any charges and expenses properly incurred in preparing the mortgage3. If the mortgagor has conveyed to the mortgagee a defective title and subsequently acquires an interest which enables him to cure the defect, the mortgagee can call upon him to perfect the mortgage title
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IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal system of the religion of Islam that sets out a system of duties or code of conduct for individuals to follow so that they may live their life in a
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
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
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:
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