The following Property practice note provides comprehensive and up to date legal information covering:
Where land is held on a charitable trust, it can only be mortgaged in accordance with the provisions of Part 7 of the Charities Act 2011 (CA 2011). A failure to comply with the statutory requirements may mean that the transaction is void.
Charity land can be held by any person or group of persons. It is the nature of the purpose for which the land is held which determines whether or not it is charity land. In many instances, the land will be held by a registered charity. However, it is feasible that a company (whether limited by shares or guarantee, or incorporated under Royal Charter), a local authority, a body of trustees, an unincorporated association, a corporation sole (eg the bishop of a diocese) or a corporation aggregate (eg the master and fellows of a university) might be holding land on the terms of a charitable trust without necessarily even being aware that this is the case. See Practice Notes: Title to charity land, How unincorporated associations hold property and Charities—governing documents.
It is necessary to distinguish between three types of charity to determine the steps that a particular charity needs to take in relation to a mortgage of its land:
Exempt charities— any charity listed in CA 2011, Sch 3 is an
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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
This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
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
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