The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This Practice Note considers the key criteria for the existence of a finance lease as well as its main characteristics. It also looks at the main advantages of a finance lease. This Practice Note should be considered alongside the notes relating to operating leases (see Practice Notes: Operating leases and Lease finance structures) and alternative leasing structures (see Practice Note: Alternative leasing structures).
A finance lease is described as a lease which transfers substantially all of the benefits and risks associated with the ownership and use of the asset to the lessee, leaving the lessor with only the financial risks and benefits.
The key difference between a finance lease and an operating lease is whether the lessor (being the legal owner who rents the assets) or the lessee (who actually uses the asset) assumes the risks of ownership. The lessee will take on all of the risks in relation to loss or damage to the asset and will be responsible for obtaining the necessary insurance cover.
Any leased assets are shown on the balance sheet of the lessee, with any amounts due under the lease shown on the balance sheet as liabilities.
The term of the lease may be divided into two distinct parts: an initial primary period during which the lessor will recover the financial investment which it made in the
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Voluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished responsibility or suicide
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not
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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