The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Security over land can be taken by way of mortgage or charge with the appropriate form often depending on the significance of the land to the borrower's business or the relevance of the land to the particular transaction. Where the land is considered a material asset or the loan is used to acquire or develop land, lenders are more likely to require a legal mortgage. If the land is a less significant asset, lenders may be prepared to accept an equitable mortgage or charge. For more information on the potential security available, see Practice Note: Types of security.
To perfect security over land granted by a company registered in England & Wales, the security is registered at Companies House. In the case of land in particular, if the security is in respect of registered land and is intended to take effect as a legal mortgage, the security must also be registered at HM Land Registry. If the security is in respect of unregistered land, granting security will usually trigger first registration of the land at HM Land Registry. Where granting security does not trigger first registration, the security interest can in some cases be registered at the Land Charges Department. For more information on perfecting security and registration, see Practice Note: Perfecting security over land and registration at HM Land Registry.
If a company cannot meet
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Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
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