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KembaraXtra – Legal Terms – Power to Manage
The power to manage refers to the authority to direct and control the affairs of a company.
This power is usually divided between the board of directors and the general meeting of shareholders.
A company’s constitution commonly determines how managerial authority is allocated.
Under standard model articles, most management powers are vested in the directors.
However, shareholders may exercise residual powers where the directors are unable to act.
The power to manage refers to the authority to direct and control the affairs of a company.
This power is usually divided between the board of directors and the general meeting of shareholders.
A company’s constitution commonly determines how managerial authority is allocated.
Under standard model articles, most management powers are vested in the directors.
However, shareholders may exercise residual powers where the directors are unable to act.
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KembaraXtra – Legal Terms – Power Reserved by Executor
Power reserved by executor arises when an executor chooses not to immediately take part in administering an estate.
Another executor may proceed with obtaining probate while reserving the absent executor’s right to join later.
The non-proving executor retains the ability to apply later through double probate.
This arrangement is commonly used where an executor is temporarily unwilling or unavailable to act.
It differs from renouncing probate, where the executor permanently gives up the right to act.
Power reserved by executor arises when an executor chooses not to immediately take part in administering an estate.
Another executor may proceed with obtaining probate while reserving the absent executor’s right to join later.
The non-proving executor retains the ability to apply later through double probate.
This arrangement is commonly used where an executor is temporarily unwilling or unavailable to act.
It differs from renouncing probate, where the executor permanently gives up the right to act.
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KembaraXtra – Legal Terms – Power of Attorney
A power of attorney is a formal legal document authorizing one person to act on behalf of another.
The person granting the authority is known as the donor, while the authorized person is the attorney.
The authority may be broad and general or limited to specific matters.
A power of attorney is commonly used for financial, property, or personal affairs management.
Where authority is given to execute a deed, the power itself must also be created by deed.
A power of attorney is a formal legal document authorizing one person to act on behalf of another.
The person granting the authority is known as the donor, while the authorized person is the attorney.
The authority may be broad and general or limited to specific matters.
A power of attorney is commonly used for financial, property, or personal affairs management.
Where authority is given to execute a deed, the power itself must also be created by deed.
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KembaraXtra – Legal Terms – Postliminy
Postliminy is a principle of international law concerning the restoration of persons or property after wartime capture.
Under this doctrine, persons or things seized by the enemy regain their former legal status upon returning to their original jurisdiction.
The concept developed from Roman law and later influenced wartime legal principles.
It applies particularly to property, ships, and prisoners captured during armed conflict.
Postliminy reflects the idea that wartime seizure does not permanently extinguish original rights
Postliminy is a principle of international law concerning the restoration of persons or property after wartime capture.
Under this doctrine, persons or things seized by the enemy regain their former legal status upon returning to their original jurisdiction.
The concept developed from Roman law and later influenced wartime legal principles.
It applies particularly to property, ships, and prisoners captured during armed conflict.
Postliminy reflects the idea that wartime seizure does not permanently extinguish original rights
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KembaraXtra – Legal Terms – Post-Mortem
A post-mortem is an examination of a body after death to determine the cause of death.
It is also known as an autopsy.
Post-mortem examinations are commonly ordered in suspicious, sudden, or unexplained deaths.
Medical experts conduct the examination and may provide evidence in legal proceedings.
Post-mortems play an important role in criminal investigations and coronial inquiries.
A post-mortem is an examination of a body after death to determine the cause of death.
It is also known as an autopsy.
Post-mortem examinations are commonly ordered in suspicious, sudden, or unexplained deaths.
Medical experts conduct the examination and may provide evidence in legal proceedings.
Post-mortems play an important role in criminal investigations and coronial inquiries.
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KembaraXtra – Legal Terms – Postnuptial Settlement
A postnuptial settlement is a settlement or agreement made after marriage concerning property or financial arrangements between spouses.
It commonly regulates ownership, maintenance, or distribution of assets.
Such settlements may become relevant during divorce or separation proceedings.
Courts may consider whether the agreement was fairly made and freely entered into.
Postnuptial settlements are closely connected with family law and matrimonial property rights.
A postnuptial settlement is a settlement or agreement made after marriage concerning property or financial arrangements between spouses.
It commonly regulates ownership, maintenance, or distribution of assets.
Such settlements may become relevant during divorce or separation proceedings.
Courts may consider whether the agreement was fairly made and freely entered into.
Postnuptial settlements are closely connected with family law and matrimonial property rights.
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KembaraXtra – Legal Terms – Potentially Exempt Transfer (PET)
A potentially exempt transfer (PET) is a transfer of value made by one individual to another for inheritance tax purposes.
A PET is not immediately subject to inheritance tax when the gift is made.
If the donor survives for seven years after making the transfer, it becomes fully exempt from inheritance tax.
If the donor dies within seven years, the transfer may become chargeable to tax.
The concept is an important part of estate planning and inheritance tax law.
A potentially exempt transfer (PET) is a transfer of value made by one individual to another for inheritance tax purposes.
A PET is not immediately subject to inheritance tax when the gift is made.
If the donor survives for seven years after making the transfer, it becomes fully exempt from inheritance tax.
If the donor dies within seven years, the transfer may become chargeable to tax.
The concept is an important part of estate planning and inheritance tax law.
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KembaraXtra – Legal Terms – Power in the Nature of a Trust
A power in the nature of a trust is a power that carries obligations similar to those of a trustee.
Although technically discretionary, the holder is expected to consider exercising the power properly.
The courts may supervise the exercise of such powers to prevent abuse or neglect.
This concept commonly arises in trust law and estate administration.
It differs from a purely personal or unrestricted discretionary power.
A power in the nature of a trust is a power that carries obligations similar to those of a trustee.
Although technically discretionary, the holder is expected to consider exercising the power properly.
The courts may supervise the exercise of such powers to prevent abuse or neglect.
This concept commonly arises in trust law and estate administration.
It differs from a purely personal or unrestricted discretionary power.
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KembaraXtra – Legal Terms – Power
A power is a legal authority or discretion to act or refrain from acting.
Unlike a duty, a power does not require the holder to exercise it.
Powers commonly arise in trusts, statutes, contracts, and public administration.
Courts may review the exercise of powers to ensure they are used properly and within legal limits.
An act exceeding the scope of a power may be declared invalid as ultra vires.
A power is a legal authority or discretion to act or refrain from acting.
Unlike a duty, a power does not require the holder to exercise it.
Powers commonly arise in trusts, statutes, contracts, and public administration.
Courts may review the exercise of powers to ensure they are used properly and within legal limits.
An act exceeding the scope of a power may be declared invalid as ultra vires.
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KembaraXtra – Legal Terms – Power of Sale
A power of sale is the right of a mortgagee or certain trustees to sell property under specified conditions.
In mortgage law, the power usually arises when the borrower defaults on repayment obligations.
The mortgagee must exercise the power with reasonable care and account for any surplus proceeds.
The term also refers to the authority of a tenant for life to sell settled land under settlement law.
A valid exercise of the power may overreach the interests of beneficiaries in the land.
A power of sale is the right of a mortgagee or certain trustees to sell property under specified conditions.
In mortgage law, the power usually arises when the borrower defaults on repayment obligations.
The mortgagee must exercise the power with reasonable care and account for any surplus proceeds.
The term also refers to the authority of a tenant for life to sell settled land under settlement law.
A valid exercise of the power may overreach the interests of beneficiaries in the land.