A partner1 has an implied authority to pledge or mortgage, otherwise than by deed, the personal property belonging to the partnership, and probably also the real estate2 if dealing in it is one of the objectives of the partnership, in order to raise money for the carrying on in the usual way of the partnership business, unless the partner so pledging or mortgaging has in fact no authority so to act for the firm, and the person with whom he is dealing either knows that he has no authority or does not know or believe him to be a
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Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
Commercial Property Standard Enquiries (CPSEs) are industry standard pre-contract enquiries used in commercial property transactions. CPSEs are endorsed by the British Property Federation and are free to use. The CPSEs include specific environmental enquiries at enquiry 15 and there are several
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.
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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