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Legal Terms - Administrative bond
A third-party guarantee, typically provided by an insurance company, to compensate for any damage incurred if the individual who has been awarded letters of administration fails to handle the estate appropriately. The court typically mandates an administration bond as a prerequisite for granting letters of administration, but only in cases where the beneficiaries are deemed to require exceptional safeguarding. This may occur when the administrator resides in a foreign country or when there has been a disagreement on the appropriate individual to handle the estate.
A third-party guarantee, typically provided by an insurance company, to compensate for any damage incurred if the individual who has been awarded letters of administration fails to handle the estate appropriately. The court typically mandates an administration bond as a prerequisite for granting letters of administration, but only in cases where the beneficiaries are deemed to require exceptional safeguarding. This may occur when the administrator resides in a foreign country or when there has been a disagreement on the appropriate individual to handle the estate.
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Legal Terms - Administration Order
An administration order is a court order issued in a county court to manage the financial affairs of a person who owes a debt. The order typically follows a regular pattern.
The debtor is obligated to repay his obligations in regular installments. As long as he fulfills this obligation, the creditors mentioned in the order are prohibited from pursuing their individual claims through other means without obtaining permission from the court. Administration orders are given in cases where the debtor has several debts, but it is believed that declaring bankruptcy can be prevented. The debt must not exceed £5,000 and there must be a minimum of two creditors. The applicable regulations can be found in Order 39 of the County Court Rules, which is included in schedule 2 of the Civil Procedure Rules. 2. A court order issued under the Insolvency Act 1986, which mandates that a court-appointed administrator shall oversee and control the affairs, business, and property of a corporation for a specified length of time.
For the court to approve such an order, it must be convinced that the corporation is unable or unlikely to be able to repay its debts on time and that the order will likely achieve the three specified objectives of an administration.
The Insolvency Act does not stipulate a specific timeframe for the length of the order. The order stays in effect until the administrator is released by the court after successfully fulfilling the purpose(s) for which the order was obtained or determining that the purpose cannot be accomplished.
During the duration of the order, the company is prohibited from being liquidated. No actions can be taken to enforce any security on the company's property or to reclaim goods in the company's possession, unless authorized by the court. Additionally, no other legal proceedings or processes can be initiated or continued against the company or its property without the court's permission.
An administration order is a court order issued in a county court to manage the financial affairs of a person who owes a debt. The order typically follows a regular pattern.
The debtor is obligated to repay his obligations in regular installments. As long as he fulfills this obligation, the creditors mentioned in the order are prohibited from pursuing their individual claims through other means without obtaining permission from the court. Administration orders are given in cases where the debtor has several debts, but it is believed that declaring bankruptcy can be prevented. The debt must not exceed £5,000 and there must be a minimum of two creditors. The applicable regulations can be found in Order 39 of the County Court Rules, which is included in schedule 2 of the Civil Procedure Rules. 2. A court order issued under the Insolvency Act 1986, which mandates that a court-appointed administrator shall oversee and control the affairs, business, and property of a corporation for a specified length of time.
For the court to approve such an order, it must be convinced that the corporation is unable or unlikely to be able to repay its debts on time and that the order will likely achieve the three specified objectives of an administration.
The Insolvency Act does not stipulate a specific timeframe for the length of the order. The order stays in effect until the administrator is released by the court after successfully fulfilling the purpose(s) for which the order was obtained or determining that the purpose cannot be accomplished.
During the duration of the order, the company is prohibited from being liquidated. No actions can be taken to enforce any security on the company's property or to reclaim goods in the company's possession, unless authorized by the court. Additionally, no other legal proceedings or processes can be initiated or continued against the company or its property without the court's permission.
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Legal Terms - Administration Period
the time frame that a deceased person's estate is managed. The start of the administration period is the day of death and is finished after the worth of the deceased's *residuary estate has been determined by *personal representatives.
the time frame that a deceased person's estate is managed. The start of the administration period is the day of death and is finished after the worth of the deceased's *residuary estate has been determined by *personal representatives.
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Legal Terms - Administrative Court
A division of the High Court's *Queen's Bench Division that considers cases involving *judicial review.
A division of the High Court's *Queen's Bench Division that considers cases involving *judicial review.
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Legal Terms - Tribunals Council and Administrative Justice
The Tribunals, Courts and Enforcement Act of 2007 established this entity, which is in charge of *administrative tribunals and inquiries. It was eliminated on August 19, 2013, in accordance with the Public Bodies Act 2011.
The Tribunals, Courts and Enforcement Act of 2007 established this entity, which is in charge of *administrative tribunals and inquiries. It was eliminated on August 19, 2013, in accordance with the Public Bodies Act 2011.
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Legal Terms - Actio Quanti Minoris
Actio quanti minoris is a Latin term that refers to the legal action of how much less. A buyer's activity to demand a price reduction that is proportional to the decrease in value caused by a flaw in the purchased good. According to section 48C(1)(a) of the Sales of Goods Act 1979, if there is a small defect in the product (which violates the implied term of satisfactory quality as stated in section 14), the buyer has the right to ask the seller to lower the price of the goods by an appropriate amount.
Actio quanti minoris is a Latin term that refers to the legal action of how much less. A buyer's activity to demand a price reduction that is proportional to the decrease in value caused by a flaw in the purchased good. According to section 48C(1)(a) of the Sales of Goods Act 1979, if there is a small defect in the product (which violates the implied term of satisfactory quality as stated in section 14), the buyer has the right to ask the seller to lower the price of the goods by an appropriate amount.
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Legal Terms - Active Trust
An active trust, also known as a special trust, refers to a type of trust that involves ongoing management and decision-making by the trustee. A trust that imposes additional responsibilities on the trustee beyond simply transferring the trust property to the rightful beneficiary (in contrast to a bare trust). These responsibilities may entail a certain set of obligations.The trustee may have a responsibility or be granted discretion
An active trust, also known as a special trust, refers to a type of trust that involves ongoing management and decision-making by the trustee. A trust that imposes additional responsibilities on the trustee beyond simply transferring the trust property to the rightful beneficiary (in contrast to a bare trust). These responsibilities may entail a certain set of obligations.The trustee may have a responsibility or be granted discretion
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Legal Terms - Activities of Transnational Corporations Treaty
In 2014, the United Nations Human Rights Council introduced a treaty that aims to enhance global collaboration in preventing human rights violations related to commercial operations. The treaty also seeks to ensure that victims have access to justice and remedies. The October 2019 draft explicitly states that the proposed treaty applies to all corporate entities, regardless of whether they are transnational or not. However, there is a particular focus on those businesses engaged in transnational activities. Furthermore, it harmonizes the regulations of preventive and due diligence with the UN Guiding Principles on Business and Human Rights (UNGP).
In 2014, the United Nations Human Rights Council introduced a treaty that aims to enhance global collaboration in preventing human rights violations related to commercial operations. The treaty also seeks to ensure that victims have access to justice and remedies. The October 2019 draft explicitly states that the proposed treaty applies to all corporate entities, regardless of whether they are transnational or not. However, there is a particular focus on those businesses engaged in transnational activities. Furthermore, it harmonizes the regulations of preventive and due diligence with the UN Guiding Principles on Business and Human Rights (UNGP).
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Legal Terms- Activity Directions and Conditions
A child arrangements order may include provisions that compel a person, usually a parent, to participate in an activity aimed at establishing, maintaining, or enhancing their involvement in the child's life (as defined by sections 11A-11G of the Children Act 1989). These options may encompass various initiatives such as programs, courses, or therapy sessions aimed at helping a parent reconnect with their child or treating an individual's aggressive conduct.
A child arrangements order may include provisions that compel a person, usually a parent, to participate in an activity aimed at establishing, maintaining, or enhancing their involvement in the child's life (as defined by sections 11A-11G of the Children Act 1989). These options may encompass various initiatives such as programs, courses, or therapy sessions aimed at helping a parent reconnect with their child or treating an individual's aggressive conduct.
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Legal Terms - Activity Requirement
A condition that can be mandated by a court during the sentencing process as a component of a *youth rehabilitation order in accordance with the Criminal Justice and Immigration Act 2008. An activity requirement mandates that the offender must engage in a designated activity, usually aimed at either compensating the victim or reducing the likelihood of the offender committing another offense.
A condition that can be mandated by a court during the sentencing process as a component of a *youth rehabilitation order in accordance with the Criminal Justice and Immigration Act 2008. An activity requirement mandates that the offender must engage in a designated activity, usually aimed at either compensating the victim or reducing the likelihood of the offender committing another offense.