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Legal Terms - Bona Vacantia
Bona vacantia refers to property that is unclaimed or ownerless.
Unclaimed property. Typically, in reality, this type of feature can be categorized into one of two classes: Property that was not distributed according to a deceased person's will and does not have any rightful recipient through intestacy; Assets of a dissolved firm or unincorporated association that were not dispersed before dissolution.
Depending on its location, this property is transferred to either the Crown, the Duchy of Lancaster, or the Duke of Cornwall. Regarding the assets left by a deceased individual, they can either be given to a charitable organization or used to offer ex gratia payments. The decision on how to distribute these assets lies with the Crown, Duchy, or Duke, who may allocate them to the dependents of the deceased and any other individuals for whom the deceased would have been obliged to provide. When it comes to corporate assets, the property is typically sold through public channels.
Bona vacantia refers to property that is unclaimed or ownerless.
Unclaimed property. Typically, in reality, this type of feature can be categorized into one of two classes: Property that was not distributed according to a deceased person's will and does not have any rightful recipient through intestacy; Assets of a dissolved firm or unincorporated association that were not dispersed before dissolution.
Depending on its location, this property is transferred to either the Crown, the Duchy of Lancaster, or the Duke of Cornwall. Regarding the assets left by a deceased individual, they can either be given to a charitable organization or used to offer ex gratia payments. The decision on how to distribute these assets lies with the Crown, Duchy, or Duke, who may allocate them to the dependents of the deceased and any other individuals for whom the deceased would have been obliged to provide. When it comes to corporate assets, the property is typically sold through public channels.
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Legal Terms - Bond
A bond is a legal document in which one person, known as the obligor, promises to perform a certain action or refrain from doing something for another person, known as the obligee. If it guarantees the payment of money, it is referred to as a common money bond; a
A performance bond is a type of bond that provides security for the fulfillment of a contract. A bond is a formal agreement issued by a government, local authority, firm, or other public body. It guarantees the repayment of a long-term debt together with the payment of interest. Bond issues refer to the issuance of debt securities by a borrower to investors, who in turn pay a subscription price.
A bond is a legal document in which one person, known as the obligor, promises to perform a certain action or refrain from doing something for another person, known as the obligee. If it guarantees the payment of money, it is referred to as a common money bond; a
A performance bond is a type of bond that provides security for the fulfillment of a contract. A bond is a formal agreement issued by a government, local authority, firm, or other public body. It guarantees the repayment of a long-term debt together with the payment of interest. Bond issues refer to the issuance of debt securities by a borrower to investors, who in turn pay a subscription price.
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Legal Terms - Bond Issue
Capitalization issue, often known as a bonus issue or scrip issue. An approach to augmenting a business's authorized capital by issuing more shares to current company members. The dividends for these shares have been disbursed.
The undistributed profits of the corporation might be allocated to either the share premium account or the capital redemption reserve. The bonus issue is distributed among shareholders based on their current shareholding. For example, a 1 for 2 bonus issue means that shareholders receive one additional free share for every two shares they already own.
Capitalization issue, often known as a bonus issue or scrip issue. An approach to augmenting a business's authorized capital by issuing more shares to current company members. The dividends for these shares have been disbursed.
The undistributed profits of the corporation might be allocated to either the share premium account or the capital redemption reserve. The bonus issue is distributed among shareholders based on their current shareholding. For example, a 1 for 2 bonus issue means that shareholders receive one additional free share for every two shares they already own.
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Legal Terms - Blight Notice
A statutory notice that allows an owner-occupier to demand a public authority to buy land that may be subject to compulsory acquisition, making it impossible to sell at its full worth on the open market. The land may be indicated, for instance, in a development plan or officially designated in public proposals as the location for a future highway. In reality, the blight notice functions as a type of reverse compulsory purchase: the eligible owner has the power to demand that the authority buy their property at a market price that does not take into account the impact of the authority's plans.
A statutory notice that allows an owner-occupier to demand a public authority to buy land that may be subject to compulsory acquisition, making it impossible to sell at its full worth on the open market. The land may be indicated, for instance, in a development plan or officially designated in public proposals as the location for a future highway. In reality, the blight notice functions as a type of reverse compulsory purchase: the eligible owner has the power to demand that the authority buy their property at a market price that does not take into account the impact of the authority's plans.
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Legal Terms - Blind Trust
An undisclosed trust is established when the person creating the trust (settlor) distributes assets to trustees, who will manage the assets for the settlor's benefit. The key condition of this trust is that the settlor will not be informed about the specific investments made by the trustees. This arrangement would safeguard the settlor against potential allegations of conflicts of interest arising from the intersection of their personal and professional lives. It is commonly employed by politicians and other prominent individuals in the public eye.
An undisclosed trust is established when the person creating the trust (settlor) distributes assets to trustees, who will manage the assets for the settlor's benefit. The key condition of this trust is that the settlor will not be informed about the specific investments made by the trustees. This arrangement would safeguard the settlor against potential allegations of conflicts of interest arising from the intersection of their personal and professional lives. It is commonly employed by politicians and other prominent individuals in the public eye.
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Legal Terms - Blockade
A blockade is the action taken by a hostile force to prohibit ships from entering or leaving the ports of its enemy. This is done by positioning a ship or squadron in a strategic location to intercept any vessels that try to approach or depart from those ports.
Harbors. If a neutral commerce vessel attempts to pass through a blockade, it is at risk of being seized and condemned by the captor's prize court. A blockade is often enforced by one or more warships from a warring nation, however in specific situations, it can also be established using ground batteries that control the access to a blockaded port. In the second scenario, it is necessary to have a naval force that is capable of deterring harmless vessels and apprehending offending ones that try to enter (The Circassian (1864) 2 Wall 135, 149).
A blockade is the action taken by a hostile force to prohibit ships from entering or leaving the ports of its enemy. This is done by positioning a ship or squadron in a strategic location to intercept any vessels that try to approach or depart from those ports.
Harbors. If a neutral commerce vessel attempts to pass through a blockade, it is at risk of being seized and condemned by the captor's prize court. A blockade is often enforced by one or more warships from a warring nation, however in specific situations, it can also be established using ground batteries that control the access to a blockaded port. In the second scenario, it is necessary to have a naval force that is capable of deterring harmless vessels and apprehending offending ones that try to enter (The Circassian (1864) 2 Wall 135, 149).
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Legal Terms - Blind Trust
An undisclosed trust is established when the person creating the trust (settlor) distributes assets to trustees, who will manage the assets for the settlor's benefit. The key condition of this trust is that the settlor will not be informed about the specific investments made by the trustees. This arrangement would safeguard the settlor against potential allegations of conflicts of interest arising from the intersection of their personal and professional lives. It is commonly employed by politicians and other prominent individuals in the public eye.
An undisclosed trust is established when the person creating the trust (settlor) distributes assets to trustees, who will manage the assets for the settlor's benefit. The key condition of this trust is that the settlor will not be informed about the specific investments made by the trustees. This arrangement would safeguard the settlor against potential allegations of conflicts of interest arising from the intersection of their personal and professional lives. It is commonly employed by politicians and other prominent individuals in the public eye.
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Legal Terms - Block Exemption
Certain entities are granted exemption from Article 101 of the Treaty on the Functioning of the European Union (formerly known as the Treaty of Rome).
The forms of anticompetitive agreements that are covered by specific EU regulations and have a direct impact within the EU are outlined in the Community legislation. Block exemptions are present in various domains, including as vertical agreements, research and development, specialization, and technology transfer. The regulations are made available in the Official Journal of the European Union. Any agreement that adheres to the regulations will be excluded from Article 101. Several contracts in the European Union are structured to adhere to the block exemption regulations by incorporating the exact language of those restrictions into the agreements. EU block exemptions grant an inherent exception from the regulations outlined in the UK Competition Act 1998. These exemptions will persist even after Brexit, as they have been included into the preserved EU law.
Certain entities are granted exemption from Article 101 of the Treaty on the Functioning of the European Union (formerly known as the Treaty of Rome).
The forms of anticompetitive agreements that are covered by specific EU regulations and have a direct impact within the EU are outlined in the Community legislation. Block exemptions are present in various domains, including as vertical agreements, research and development, specialization, and technology transfer. The regulations are made available in the Official Journal of the European Union. Any agreement that adheres to the regulations will be excluded from Article 101. Several contracts in the European Union are structured to adhere to the block exemption regulations by incorporating the exact language of those restrictions into the agreements. EU block exemptions grant an inherent exception from the regulations outlined in the UK Competition Act 1998. These exemptions will persist even after Brexit, as they have been included into the preserved EU law.
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Legal Terms - Blood Test
A blood test is a diagnostic procedure that examines the blood to determine if a specific man is not the biological father of a particular kid. However, it cannot definitively confirm paternity. In cases involving disputes about paternity, the court has the authority to mandate blood testing. However, it is important to note that a man cannot be coerced into undergoing the test if he does not consent to it. Nevertheless, his denial may result in the court making unfavorable inferences.
Any unauthorized attempt to extract blood without obtaining consent would be considered trespassing.
A blood test is a diagnostic procedure that examines the blood to determine if a specific man is not the biological father of a particular kid. However, it cannot definitively confirm paternity. In cases involving disputes about paternity, the court has the authority to mandate blood testing. However, it is important to note that a man cannot be coerced into undergoing the test if he does not consent to it. Nevertheless, his denial may result in the court making unfavorable inferences.
Any unauthorized attempt to extract blood without obtaining consent would be considered trespassing.
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Legal Terms - Blue Bag
Historically, a bag designed for the purpose of transporting a barrister's robes. When an individual is admitted to the bar, according to custom, they are given a blue garment as part of their attire.
He needs a bag to transport his robe and wig box. If the young lawyer performs admirably in a case led by a Queen's Counsel, it is within the QC's prerogative to bestow upon the junior lawyer a red bag as a token of recognition.
Historically, a bag designed for the purpose of transporting a barrister's robes. When an individual is admitted to the bar, according to custom, they are given a blue garment as part of their attire.
He needs a bag to transport his robe and wig box. If the young lawyer performs admirably in a case led by a Queen's Counsel, it is within the QC's prerogative to bestow upon the junior lawyer a red bag as a token of recognition.
