The following Wills & Probate precedent provides comprehensive and up to date legal information covering:
I hereby appoint [full name of first executor] of [full address] and [full name of second executor] of [full address of second executor] (hereinafter called 'my trustees') to be the executors and trustees of this my will except as to the part of my estate hereby given to my literary executor(s).
I appoint [full name of first literary executor] of [full address] and [full name of second literary executor] of [full address] ('my literary executors') to be the executors to administer only my Literary estate [and I direct that the inheritance tax attributable to the said part of my estate and the expenses paid and incurred by them in taking out a limited grant of
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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:
What are OFTOs?Offshore Transmission Owners (OFTOs) are the owners of offshore transmission assets which connect offshore wind farms to the onshore electricity network. The transmission assets comprise everything between the offshore point of connection with the generating wind farm assets and the
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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