The following Commercial practice note provides comprehensive and up to date legal information covering:
This Practice Note considers contracting authority under the law of England and Wales, which is an essential component of contract formation. It considers general principles of agency and contracting authority in the context of corporations generally, companies registered under the Companies Act 2006 (CA 2006), unregistered companies, overseas companies, limited liability partnerships, general partnerships, limited partnerships, unincorporated associations, incorporated charities (charitable companies and Charitable Incorporated Organisations) and unincorporated charities (charitable unincorporated associations and charitable trusts).
Where an entity has separate legal status, it is possible to make a distinction between instruments executed by the entity itself (eg using its common seal where available) or on behalf of the entity (eg by a person acting under its authority). This Practice Note focuses on a person’s contracting authority where they are executing an instrument on behalf of the entity. It does not consider the various alternative methods of execution that may be available (eg using a common seal). For guidance on the separate issue of execution formalities and requirements and protections in respect of due execution, see the Practice Notes referenced in the ‘Execution formalities’ column of the Quick view table.
Third party protections available in respect of contracting authority in the context of documents executed for a transfer or grant of an interest in property, or rules applicable to an entity in respect of holding or dealing
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This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
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 is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
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