The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
A pure operating lease provides the lessee with the use of an asset for the term of the lease in consideration for the payment of rent to the lessor. At the expiry of the lease term, the lessee is obliged to return the asset to the lessor and has no further legal or economic interest in the residual value of the asset.
Under an operating lease, the risk in relation to the asset or equipment falls upon the lessor rather than the lessee throughout the lease term (which is typically for a period of less than ten years).
An operating lease will be treated as being 'off balance sheet' in the accounts of the lessee, which may increase the chances of the lessee being able to obtain additional funding lines.
A synthetic operating lease is a lease which, although intended to finance the eventual acquisition of an asset by the lessee, is treated as an operating lease in accordance with the applicable accounting standards. The lessee will seek to show tha
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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.What is a Part 8 claim?A Part 8 claim is a claim
Elements of the offence of perverting the course of justicePerverting the course of justice is a common law offence which can only be tried on indictment in the Crown Court. The elements of the offence are:•a person acts or embarks on a course of conduct•which has a tendency to•and is intended to
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
What is quia timet relief?Injunctions are generally awarded where a party has already suffered a wrong. For guidance on injunctions generally, see Practice Note: Injunctions—guiding principles. However, an injunction may be sought before a party's rights have been infringed on the basis that they
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