The following Commercial Q&A Produced in partnership with Denis Edwards of Normanton Chambers provides comprehensive and up to date legal information covering:
The variety of conceivable contracts made by schools for school trips, in addition to the range of such trips, means that it is not possible to give a specific answer to this question. School trips include relatively simple arrangements for a trip to a local museum, day trips on a hired coach to a castle 100km away and more complex contracts associated with a week-long ski trip to a resort abroad. The contractual arrangements involved in these trips will be different depending on the nature of the trip.
As a general matter, where a legal person contracts with a supplier of goods or services, it is not acting as a consumer. The definition of ‘consumer’ in section 2 of the Consumer Rights Act 2015 is ‘an individual acting for purposes that are wholly or mainly outside that individual’s trade, business, craft or profession’. In contrast, ‘trader’ is defined as ‘a person acting for purposes relating to tha
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance on
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose significant limitations on the ability for a creditor to seek a winding-up order against a company. For further reading, see Practice Note: Corporate
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