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An agent who acquires possession of goods or securities which do not belong to the principal and deals with them wrongfully (for example, by selling them) is responsible for conversion and liable to account to their owner for their value.
This is so even where the agent receives them in good faith, believing them to belong to the principal, and deals with them in accordance with the principal's instructions. The agent should therefore insist on satisfactory evidence of title before dealing. However, an action in conversion will not lie where the agent does not purport to dispose of the property in goods or securities.
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Bank Recovery and Resolution Directive (BRRD)鈥攖imeline [Archived] Archived:This timeline has been archived. For developments from January 2024 onwards, see EU Bank Recovery and Resolution Directive鈥攖imeline if they relate to the EU BRRD, or UK bank recovery and resolution regime鈥攖imeline if they relate to the UK bank recovery and resolution regime, For further guidance on the EU BRRD, see Practice Note: Bank Recovery and Resolution Directive (BRRD)鈥攅ssentials. For further guidance on the UK bank recovery and resolution regime, see Practice Note: The UK bank recovery and resolution regime. Date Source Document Description 20 December 2023 European Banking Authority The EBA publishes amendments to disclosures and reporting on MREL and TLAC The European Banking Authority (EBA) has published its final draft implementing technical standards (ITS) on amendments to disclosure and reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss absorbency requirement (TLAC). The amendments reflect the new requirement to deduct investments in eligible liabilities instruments of entities belonging to the same resolution group, the...
Rights of light鈥攊dentifying provisions in leases鈥攃hecklist This Checklist sets out which clauses in a lease and other relevant documents should be reviewed to determine whether a right of light exists. A right of light is an easement that entitles a landowner to receive natural light through an aperture in a building on its property. The owner of the land that is burdened by the right of light (the 'servient Building') cannot interfere with it without consent. On any proposed development it is therefore necessary to identify any neighbouring properties potentially enjoying a right of light (the 'dominant Building'). For further information regarding rights of light, see the following Practice Notes: 鈥 Establishing and maintaining rights of light 鈥 Rights of light鈥攐bstruction notices 鈥 Rights of light claims 鈥 Rights of light鈥攊nsurance for developers Section 2 of the Prescription Act 1832 (PA 1832) requires actual enjoyment of light, which means that a right of light can be acquired for their own benefit and in their own right by those with a...
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This Practice Note describes the nature and degree of an agent's authority which is conferred upon it by the principal, subject to some limitations. This Practice Note considers the different types of agent鈥檚 authority, including actual, apparent and customary authority. It also considers authority granted under a power of attorney. This Practice Note considers the impact of an agent acting outside of its authority, whether the actions of an agent acting outside of its authority are binding on the principal, and what remedies are available to a principal when an agent acts outside of its authority.Authority of agentAn agent's authority is conferred by its principal. The scope of authority granted to agents by principals in business matters is usually a combination of all or some of the following: to introduce, conclude, or otherwise deal with contracts between the principal and customers. An agent does not necessarily have authority to bind a principal in contractual relations; this will depend on the nature of the agent鈥檚 appointment and the authority that the...
This Practice Note deals with the relationships arising between principals, agents and third parties with whom the agent deals on the principal鈥檚 behalf. It considers the principal鈥檚 liability for its agent, agent鈥檚 authority including remedies for breach of authority, fraud and misrepresentation, and the notions of disclosed and undisclosed principal.Principal鈥檚 liability for acts of agentA principal is normally liable for all acts of an agent within the agent鈥檚 authority, whether responsibility arises in contract or in tort. Authority means the agent鈥檚 actual, apparent (ostensible) or usual (customary) authority. For more information, see Practice Notes: Scope and authority of the agent and Forming enforceable contracts鈥攁gent's authority to contract.An agent鈥檚 authority is conferred by it鈥檚 principal and it is important to note at the outset that the ability to bind a principal in contract is not necessarily determinative of an agency relationship: indeed, in many instances an agent will not have the right to bind it鈥檚 principal and this is only one of many restrictions that a principal may apply to an...
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Balanced scorecard: partnership promotion criteria Candidate col style="width: 50%;"> Name of person being assessed [Insert name] Date of assessment [Insert date] Assessor(s) [Insert name(s)] Partnership promotion criteria Criteria 1: Financial and technical skills Required skill or indicator Measurement Does the individual meet this criteria? Billable hours [Insert the required measurement for this skill/indicator, eg 1500 chargeable hours per annum] 鈽 Yes鈽 No Billable hours conversion rate [What percentage of billable hours do you expect to be converted into actual billing, eg 85%] 鈽 Yes鈽 No Legal knowledge [Insert the required measurement for this skill/indicator, eg Specific areas of expertise] 鈽 Yes鈽 No Matters handled [Insert the required measurement for this skill/indicator, eg Volume and consistency鈥攃ompliments and complaints] 鈽 Yes鈽 No Ability to understand and interpret financial reports [Insert the required measurement for this skill/indicator, eg What reports are required, how have they been used in decision making?] 鈽 Yes鈽 No Ability to handle complex matters [Insert the required measurement for this skill/indicator, eg technical complexity and diplomatic...
Supply Chain Emissions Scorecard (The Chancery Lane Project) This Precedent is a Supply Chain Emissions Scorecard for use in commercial negotiations, to position sustainability performance as a collaborative effort between the parties, increase the transparency of a supplier鈥檚 climate action through a robust reporting framework and give contracting parties the opportunity to precisely quantify where they are in meeting their sustainability requirements. These sustainability clauses were produced by The Chancery Lane Project (TCLP) as 鈥楽upply Chain Emissions Scorecard鈥 and are reproduced with permission (and with some minor editorial changes). TCLP is the code name for the focused and collaborative effort of lawyers from around the world to develop new contracts and model laws to help fight climate change. For more information, see: chancerylaneproject.org. 成人影音庐 is proud to support the work of TCLP. 1 Additional clause [Company specific 鈥 indicative drafting] 鈥楾he pricing mechanisms referred to in clauses [insert clause number] will take effect on the [Effective Date], being the date by which the [main party] receives the Scorecard...
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How do the provisions of paragraph 4 of Part 1 of Schedule 1 to the Academies Act 2010 impact consideration of whether or not a maintained school can let part of the school premises to a third party for use as a nursery two鈥揻our years olds? The Academies Act 2010 (AcA 2010) and regulations made thereunder makes provision for the transfer of land from the local authority to the Academy Trust. While there is power in AcA 2010, Sch 1 Pt 1 to provide for outright transfer, the guidance from the Department for Education in its document, Land Transfer Advice (April 2013) is that in the vast majority of cases the transfer will be by way of a 125-year lease to the Academy Trust, thus preserving the public land. It is usually only in those cases where a school already owns their own land prior to conversion to an academy that there will be a transfer of the freehold. The general power of a local authority to make disposals of...
A landlord is renting out a commercial property which is used as a business by the tenant. The tenant is in considerable arrears and under the terms of the lease, such arrears allows the landlord to take back possession using peaceable re-entry. The tenant has installed an alarm system without the landlord's consent and not provided the landlord with the passcode. Assuming the landlord follows the correct procedure (ie done while the property is empty, displays the appropriate notices), would the alarm being set-off invalidate the peaceable re-entry, or would the landlord still be able to reclaim possession? This question raises the issue of how a landlord might effect a peaceable re-entry. It focuses upon a particular issue, it being assumed that the notice under section 146 of the Law of Property Act 1925 has been served. It is also assumed that the right to forfeit has arisen, that it has not been waived and that a right of re-entry is reserved by the lease. Care has been taken to...
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Welcome to the 23 January 2025 highlights from the Immigration team, which provides links to key news stories from the last week, as well as a round-up of new and updated content in Immigration.
This week's edition of Dispute Resolution weekly highlights includes analysis of a number of key DR developments and key judicial decisions including: the Civil Justice Committee鈥檚 response to the consultation on contempt of court and the Court of Appeal decision in Clifford Chance LLP v Societe Generale SA (jurisdiction agreement); dates for your diary; details of our most recently published content; and other information of general interest to dispute resolution practitioners.
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