The following Private Client Q&A Produced in partnership with Lynne Counsell of 9 Stone Buildings provides comprehensive and up to date legal information covering:
The nature of a discretionary trust is often analysed in the context of tax cases. See Pearson v IRC and Re Trafford’s Settlement.
Trusts can be divided into two categories—namely, fixed trusts and discretionary trusts, depending on the nature of the beneficial interests under the trust. A fixed trust is one whereby a beneficiary or beneficiaries have a current entitlement to a defined part of the net income or capital of the trust fund. See: Nature and classification of trusts—overview.
A discretionary trust is a more flexible type of trust
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical completion also typically marks the start of the defects liability period/maintenance period.As explained below, practical completion is an
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
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