The written agreement to execute a mortgage must incorporate all terms which the parties have expressly agreed1, but need not incorporate those implied by law2. An agreement to execute a legal mortgage, with such powers and provisions and in such form as the mortgagee may require for further securing the principal money and interest, only extends to reasonable provisions, and does not enable the mortgagee to insert terms excluding the operation of the statutory provision
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The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive disclosures under Part 7 of the Proceeds of Crime Act 2002 (POCA 2002) or Part III of the Terrorism Act 2000 (TA 2000)—see Requirement to appoint a
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate title to land (for instance, when land is being acquired or offered up as security), they will write a report on title for their client, which sets
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
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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