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KembaraXtra – Legal Terms – Matching Broker
A matching broker is a broker operating within the Stock Exchange system whose function is to match buyers and sellers of securities.
The broker assists in ensuring that transactions are completed efficiently and at suitable market prices. Matching brokers contribute to the orderly functioning of financial markets.
Their role differs from that of dealers who trade on their own account, as matching brokers primarily facilitate transactions between parties.
The position forms part of the broader regulatory and operational structure of stock exchange trading systems.
A matching broker is a broker operating within the Stock Exchange system whose function is to match buyers and sellers of securities.
The broker assists in ensuring that transactions are completed efficiently and at suitable market prices. Matching brokers contribute to the orderly functioning of financial markets.
Their role differs from that of dealers who trade on their own account, as matching brokers primarily facilitate transactions between parties.
The position forms part of the broader regulatory and operational structure of stock exchange trading systems.
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KembaraXtra – Legal Terms – Masters of the High Court
The Masters of the High Court are judicial officers serving in the Queen’s Bench and Chancery Divisions of the High Court.
Their primary responsibility is to supervise interim and procedural matters arising during litigation. This includes handling applications, managing cases, and resolving procedural disputes before trial.
In the Chancery Division, Masters also traditionally deal with financial accounts and other detailed administrative issues. Historically, Chancery Masters were often solicitors, while Queen’s Bench Masters were usually barristers.
Outside London, similar functions are carried out by district judges of the High Court within district registries.
The Masters of the High Court are judicial officers serving in the Queen’s Bench and Chancery Divisions of the High Court.
Their primary responsibility is to supervise interim and procedural matters arising during litigation. This includes handling applications, managing cases, and resolving procedural disputes before trial.
In the Chancery Division, Masters also traditionally deal with financial accounts and other detailed administrative issues. Historically, Chancery Masters were often solicitors, while Queen’s Bench Masters were usually barristers.
Outside London, similar functions are carried out by district judges of the High Court within district registries.
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KembaraXtra – Legal Terms – Masters of the Bench
The Masters of the Bench, commonly called Benchers, are senior members responsible for the governance and administration of the Inns of Court.
They supervise matters relating to legal education, professional discipline, and the management of the Inns. Benchers are usually experienced barristers or judges appointed because of their standing within the legal profession.
The Benchers play an important role in maintaining traditions and standards at the Bar. They also participate in ceremonial functions and professional oversight.
Their authority is particularly significant in relation to the admission and training of barristers in England and Wales.
The Masters of the Bench, commonly called Benchers, are senior members responsible for the governance and administration of the Inns of Court.
They supervise matters relating to legal education, professional discipline, and the management of the Inns. Benchers are usually experienced barristers or judges appointed because of their standing within the legal profession.
The Benchers play an important role in maintaining traditions and standards at the Bar. They also participate in ceremonial functions and professional oversight.
Their authority is particularly significant in relation to the admission and training of barristers in England and Wales.
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KembaraXtra – Legal Terms – Master of the Rolls
The Master of the Rolls is the judge who presides over the Civil Division of the Court of Appeal.
The office is one of the oldest judicial positions in England. Originally, the holder was responsible for maintaining official public records and later became an important judge within the Court of Chancery.
Since 1881, the Master of the Rolls has functioned exclusively as a judge of the Court of Appeal. Despite this change, the office still retains certain duties connected with public records and administration.
The holder of the office also performs ceremonial and professional functions, including the admission of solicitors to legal practice.
The Master of the Rolls is the judge who presides over the Civil Division of the Court of Appeal.
The office is one of the oldest judicial positions in England. Originally, the holder was responsible for maintaining official public records and later became an important judge within the Court of Chancery.
Since 1881, the Master of the Rolls has functioned exclusively as a judge of the Court of Appeal. Despite this change, the office still retains certain duties connected with public records and administration.
The holder of the office also performs ceremonial and professional functions, including the admission of solicitors to legal practice.
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KembaraXtra – Legal Terms – Master
The term master has several meanings in law depending on the context in which it is used.
Firstly, it may refer to one of the judicial officers known as the Masters of the High Court or the Masters of the Bench. These officials assist in the administration and management of court proceedings.
Secondly, the word may describe the individual who commands or controls a ship or vessel. In maritime law, the master has responsibility for navigation and management of the vessel.
Historically, the term was also used to describe an employer in employment relationships, although modern legal language now generally uses the terms employer and employee instead.
The term master has several meanings in law depending on the context in which it is used.
Firstly, it may refer to one of the judicial officers known as the Masters of the High Court or the Masters of the Bench. These officials assist in the administration and management of court proceedings.
Secondly, the word may describe the individual who commands or controls a ship or vessel. In maritime law, the master has responsibility for navigation and management of the vessel.
Historically, the term was also used to describe an employer in employment relationships, although modern legal language now generally uses the terms employer and employee instead.
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KembaraXtra – Legal Terms – Marxist Legal Theory
Marxist legal theory refers to approaches to legal analysis influenced by the ideas of Karl Marx and Friedrich Engels. The theory examines law through the lens of social class, economic structures, and power relations within society.
According to Marxist thought, the economic organization of society forms its foundation, while institutions such as law and government are part of the “superstructure.” This means that legal systems are viewed as being shaped largely by economic interests and class relationships rather than existing as neutral systems of justice.
Marxist legal theorists therefore argue that laws often serve the interests of dominant economic groups. Legal rules and state institutions are seen as mechanisms that help maintain existing social and economic arrangements.
The theory has strongly influenced critical approaches to law and continues to play an important role in the sociology and philosophy of law.
Marxist legal theory refers to approaches to legal analysis influenced by the ideas of Karl Marx and Friedrich Engels. The theory examines law through the lens of social class, economic structures, and power relations within society.
According to Marxist thought, the economic organization of society forms its foundation, while institutions such as law and government are part of the “superstructure.” This means that legal systems are viewed as being shaped largely by economic interests and class relationships rather than existing as neutral systems of justice.
Marxist legal theorists therefore argue that laws often serve the interests of dominant economic groups. Legal rules and state institutions are seen as mechanisms that help maintain existing social and economic arrangements.
The theory has strongly influenced critical approaches to law and continues to play an important role in the sociology and philosophy of law.
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KembaraXtra – Legal Terms – Martial Law
Martial law refers to government by military authorities during periods when ordinary civil government has broken down because of war, invasion, rebellion, or widespread disorder.
Under martial law, military forces may temporarily exercise powers normally carried out by civilian institutions in order to restore public order and security.
The United Kingdom has no formal constitutional system for declaring martial law, and the concept exists mainly as a practical emergency situation rather than a clearly defined legal status.
Martial law differs from military law. Military law governs members of the armed forces, whereas martial law concerns the temporary control of civilian society by military authorities during emergencies.
Martial law refers to government by military authorities during periods when ordinary civil government has broken down because of war, invasion, rebellion, or widespread disorder.
Under martial law, military forces may temporarily exercise powers normally carried out by civilian institutions in order to restore public order and security.
The United Kingdom has no formal constitutional system for declaring martial law, and the concept exists mainly as a practical emergency situation rather than a clearly defined legal status.
Martial law differs from military law. Military law governs members of the armed forces, whereas martial law concerns the temporary control of civilian society by military authorities during emergencies.
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KembaraXtra – Legal Terms – Martens Clause
The Martens clause is a provision first introduced into the Hague Conventions of 1899 and 1907 by the Russian jurist Friedrich von Martens.
The clause states that even where a treaty does not specifically prohibit a particular method of warfare, conduct may still be governed by broader principles of international law, humanity, and public conscience.
Its purpose is to ensure that gaps in treaty law do not imply unrestricted freedom during armed conflict. The clause therefore prevents parties from arguing that anything not expressly forbidden is automatically lawful.
The Martens clause remains influential in modern international humanitarian law and continues to guide interpretation of the laws of armed conflict.
The Martens clause is a provision first introduced into the Hague Conventions of 1899 and 1907 by the Russian jurist Friedrich von Martens.
The clause states that even where a treaty does not specifically prohibit a particular method of warfare, conduct may still be governed by broader principles of international law, humanity, and public conscience.
Its purpose is to ensure that gaps in treaty law do not imply unrestricted freedom during armed conflict. The clause therefore prevents parties from arguing that anything not expressly forbidden is automatically lawful.
The Martens clause remains influential in modern international humanitarian law and continues to guide interpretation of the laws of armed conflict.
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KembaraXtra – Legal Terms – Marshalling of Securities
Marshalling of securities is a specialized application of the equitable doctrine of marshalling of assets.
The doctrine commonly arises where one creditor holds security over two properties while another creditor has security over only one of them. The first creditor may choose which property to enforce against, but equity protects the second creditor from unfair prejudice.
If the first creditor satisfies the debt from the shared property, the second creditor may claim against the other property so far as necessary to recover the outstanding amount.
This equitable right is limited where it would prejudice an innocent purchaser who acquired property without notice of the circumstances creating the marshalling right.
Marshalling of securities is a specialized application of the equitable doctrine of marshalling of assets.
The doctrine commonly arises where one creditor holds security over two properties while another creditor has security over only one of them. The first creditor may choose which property to enforce against, but equity protects the second creditor from unfair prejudice.
If the first creditor satisfies the debt from the shared property, the second creditor may claim against the other property so far as necessary to recover the outstanding amount.
This equitable right is limited where it would prejudice an innocent purchaser who acquired property without notice of the circumstances creating the marshalling right.
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KembaraXtra – Legal Terms – Marshalling of Assets in Probate
Marshalling of assets in probate refers to the process of arranging the payment of a deceased person’s debts from the estate in a fair and legally ordered manner.
The Administration of Estates Act 1925 sets out the order in which estate assets should normally be used to satisfy debts and liabilities. Mortgaged property is generally applied first toward discharging the relevant mortgage debt.
Creditors, however, are not always restricted to claiming against particular assets. If a creditor enforces payment against property that should not primarily have been used, adjustments may later be required.
The deceased’s personal representatives must therefore compensate beneficiaries whose inheritance was improperly reduced because an asset was used out of the proper order.
Marshalling of assets in probate refers to the process of arranging the payment of a deceased person’s debts from the estate in a fair and legally ordered manner.
The Administration of Estates Act 1925 sets out the order in which estate assets should normally be used to satisfy debts and liabilities. Mortgaged property is generally applied first toward discharging the relevant mortgage debt.
Creditors, however, are not always restricted to claiming against particular assets. If a creditor enforces payment against property that should not primarily have been used, adjustments may later be required.
The deceased’s personal representatives must therefore compensate beneficiaries whose inheritance was improperly reduced because an asset was used out of the proper order.