The following Private Client practice note Produced in partnership with Craig Ward, MSc BA(Hons) TEP MBPsS CertCouns of Craybeck Law provides comprehensive and up to date legal information covering:
A business lasting power of attorney (BLPA) allows the donor to appoint an attorney to make decisions concerning their business interests either when they are unavailable or lack mental capacity. A BLPA should be distinguished from a Financial affairs LPA created to manage an individual’s personal finances. Research conducted by this author has found that EPAs and LPAs are usable to make business decisions.
Powers of attorney (POA) are already widely used by businesses to manage a range of commercial situations. BLPAs should be seen as an extension of managing business interests, as part of the business crisis management practice and reducing business risk. As businesses already use POAs, practitioners should ensure they distinguish these from BLPAs. Where the distinction is lost this may lead to misunderstanding and potential negligence as appropriate advice may not have been understood. Ideally, solicitors should advise business clients on making two separate LPAs—a personal LPA(s) (Financial and also Health & care, if desired) and one to manage their business interests. Senior Judge Lush has commented there are 'Cases where the donor should have made two LPAs: one for their business affairs and the other for their personal finances', (Lush  Eld LJ 144). This Practice Note explains when a BLPA will be required, what problems it may avoid, who may act as a business attorney and how to create
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
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
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
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