The following Private Client Q&A provides comprehensive and up to date legal information covering:
This Q&A only considers a class of closed beneficiaries and not the scenario where there may be other persons who are capable of benefitting under the trust, other than the individuals whose interest in income has already vested.
Practice Note: Trustees—removal of trustees provides that where the beneficiaries of a trust are collectively absolutely entitled to the whole of the trust property, they can compel a trustee to retire by serving a written direction on them to that effect, thereby effectively conferring on them a power to remove that trustee. They may also appoint a new trustee in the retired one's place.
The power conferred by section 19 of the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA 1996) cannot be invoked if the t
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Express and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made (or there may be a combination of written and oral
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
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