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Tacking (law)
Tacking (an old form of “attaching”) is a legal right most usually relevant when the common law resolves competing priorities between two or more security interests arising over the same asset. It is of two types: # Tacking the legal estate # Tacking further advances Tacking the legal estate refers to the holder of an equitable mortgage getting better security by obtaining legal title to the security (whether by way of mortgage or otherwise). Usually this is prompted by their discovery, after they took their security, that there is an earlier equitable mortgage over the same asset. The effect of the tacking is to postpone (i.e., demote) the rights of the first creditor to those of the second: this follows the general principle that a legal interest takes priority over an equitable one. Tacking further advances refers to the ability of a creditor (in some circumstances) to tack a later loan to security they took for an earlier loan, as in the following example: # Bank A lends ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Newfoundland And Labrador (Court Of Appeal)
The Court of Appeal of Newfoundland and Labrador is at the top of the hierarchy of courts for the Canadian province of Newfoundland and Labrador. The Court of Appeal derives its powers and jurisdiction from the Court of Appeal Act. The independent Court of Appeal was established in 2018 and comprises the Chief Justice and five other justices. At any given time there may be one or more additional justices who sit as supernumerary justices. From 1975 until 2018 the Court of Appeal was constituted as the appeal division of the Supreme Court of Newfoundland and Labrador with judges appointed specifically to hear appeals from the General Division of the Supreme Court. Prior to 1975 both trial and appeals were carried out in the Supreme Court, where the individual judges routinely acted as a trial judges but, in the event of an appeal, would sit together (en banc) to hear it. The Court now hears appeals of all type from the Supreme Court of Newfoundland and Labrador's General Divisio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925 ( 15 & 16 Geo. 5. c. 20) is an act of the Parliament of the United Kingdom. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Inn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unregistered Land In English Law
Unregistered land in English law is land that has not been registered with HM Land Registry. Under the residual principles of English land law, for unregistered land proof of title is based upon historical title deeds and a registry for certain charges under the Land Charges Act 1972. Compulsion to register In 2013, because registration of title was never made compulsory ''per se'', 18 per cent of land in England and Wales remained unregistered. Only if a transaction identified in the Land Registration Act 2002 section 4 took place, as under the Land Registration Act 1925, would the land be compulsorily entered on the register. Such events have resulted in the amount of unregistered land decreasing by around 1 per cent a year. As of 2022, the amount of land unregistered in England and Wales stood at 12 per cent. Voluntary registration is possible, and efforts to encourage large land owners to do so contributed to a large drop in the amount of unregistered land from around 50% i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of The United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body of the United Kingdom, and may also legislate for the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster in London. Parliament possesses legislative supremacy and thereby holds ultimate power over all other political bodies in the United Kingdom and the Overseas Territories. While Parliament is bicameral, it has three parts: the sovereign, the House of Lords, and the House of Commons. The three parts acting together to legislate may be described as the King-in-Parliament. The Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation. The House of Commons is the elected lower chamber of Parliament, with elections to 650 single-member constituencies held at least every five years under the first-past-the-post system. By constitutional conventi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong
Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the world. Hong Kong was established as a colony of the British Empire after the Qing dynasty ceded Hong Kong Island in 1841–1842 as a consequence of losing the First Opium War. The colony expanded to the Kowloon Peninsula in 1860 and was further extended when the United Kingdom obtained a 99-year lease of the New Territories in 1898. Hong Kong was occupied by Japan from 1941 to 1945 during World War II. The territory was handed over from the United Kingdom to China in 1997. Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of one country, two systems. Originally a sparsely populated area of farming and fishing villages,. the territory is now one of the world's most signific ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Queensland
Queensland ( , commonly abbreviated as Qld) is a States and territories of Australia, state in northeastern Australia, and is the second-largest and third-most populous state in Australia. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south, respectively. To the east, Queensland is bordered by the Coral Sea and the Pacific Ocean; to the state's north is the Torres Strait, separating the Australian mainland from Papua New Guinea, and the Gulf of Carpentaria to the north-west. With an area of , Queensland is the world's List of country subdivisions by area, sixth-largest subnational entity; it List of countries and dependencies by area, is larger than all but 16 countries. Due to its size, Queensland's geographical features and climates are diverse, and include tropical rainforests, rivers, coral reefs, mountain ranges and white sandy beaches in its Tropical climate, tropical and Humid subtropical climate, sub-tropical c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Columbia
British Columbia is the westernmost Provinces and territories of Canada, province of Canada. Situated in the Pacific Northwest between the Pacific Ocean and the Rocky Mountains, the province has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, forests, lakes, mountains, inland deserts and grassy plains. British Columbia borders the province of Alberta to the east; the territories of Yukon and Northwest Territories to the north; the U.S. states of Washington (state), Washington, Idaho and Montana to the south, and Alaska to the northwest. With an estimated population of over 5.7million as of 2025, it is Canada's Population of Canada by province and territory, third-most populous province. The capital of British Columbia is Victoria, British Columbia, Victoria, while the province's largest city is Vancouver. Vancouver and its suburbs together make up List of census metropolitan areas and agglomerations in Canada, the third-largest metropolit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Registration Act 2002
The Land Registration Act 2002 (c. 9) is an act of the Parliament of the United Kingdom which repealed and replaced previous legislation governing land registration, in particular the Land Registration Act 1925, which governed an earlier, though similar, system. The act, together with the ( SI 2003/1417), regulates the role and practice of HM Land Registry. Background The Land Registration Act 2002 was introduced in response to the Law Commission and HM Land Registry report, ''Land Registration for the Twenty-first Century'' (2001). The Act: *Simplified and modernised the law of land registration; *Made the register reflect a more accurate picture of a title to land, showing more fully the rights and subsidiary interests that affect it; and *Was intended to facilitate the introduction of e-conveyancing. The Act made some major changes to the law regulating registered land. Specifically, it: *Enabled shorter leases to be registered; *Further encouraged voluntary land registr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Account
A bank account is a financial account maintained by a bank or other financial institution in which the financial transaction A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, Service (economics), services, or assets for payment. Any transaction involves a change in the status of the finances of two or mo ...s between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from the accounts in accordance with their terms and conditions. The financial transac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaynes V Noble
''Devaynes v Noble'' (1816) 35 ER 781, best known for the claim contained in ''Clayton's case'', created a rule, or more precisely common law presumption, in relation to the distribution of money from a bank account. The rule is based upon the deceptively simple notion of ''first-in, first-out'' to determine the effect of payments from an account, and normally applies in English Law in the absence of evidence of any other intention. Payments are presumed to be appropriated to debts in the order in which the debts are incurred. Facts Mr. Clayton had an account with a banking firm, Devaynes, Dawes, Noble, and Co, that was a partnership rather than a joint stock company as modern banks almost always are. The bank's partners were therefore personally liable for the debts of the bank. One of the partners, William Devaynes, died in 1809. The amount then due to Clayton was £1,717. After Mr. Devaynes' death, Clayton made further deposits with the bank and the surviving partners paid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
