The mortgagor is subject to an obligation to deliver up vacant possession of the property on the execution of a warrant for possession1. A mortgagee who finds himself in possession of chattels on the execution of a warrant for possession is in law an involuntary bailee2. The duty of an involuntary bailee is to do what is right and reasonable3, and what is right and reasonable depends upon the findings of fact in each case. The relevant conditions of the mortgage provide a framework within which the common law duty of care, which is imposed on an involuntary bailee,
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
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