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Delivery is defined in the sale of goods Act 1979, s 61(1) as the 'voluntary transfer of possession from one person to another' which is the point in time when the parties can be seen to have agreed that the legal right to possession of the goods passes from the seller to the buyer. A distinction must be made between the transfer of possession/delivery and the passing of title/ownership.
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Grounds for challenge in a public procurement process鈥攃hecklist This Checklist examines the grounds for challenge in a public procurement process. Procurement challenges are restricted by time limits and bidders need to be aware of how to rectify any breaches as soon as possible. This Checklist sets out the limitation period under the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102 and the relevant factors that can affect the date this starts. This Checklist also pinpoints potential grounds for challenge in relation to Selection Questionnaires, invitations to tender and standstill letters. Limitation in public procurement proceedings Procurement challenges are subject to relatively short limitation periods. It is therefore important that bidders are alive to potential breaches arising during the procurement process itself. Where a breach occurs, an analysis as to what, if any, action the bidder wishes to take must be undertaken quickly. The courts have consistently held that a bidder that chooses to sit on its hands and await the outcome of the procurement process will not be able to...
Issuing high yield bonds鈥攄ocuments list The documents listed below provide an overview of the core transaction documents typically used to document a high yield bond issuance. The description for each provides an explanation of the document's purpose and the parties which typically enter into them. Additional documents may be required to deal with aspects of a specific transaction (such as escrow arrangements) or to reflect bespoke arrangements. Document Description 144A Global Note A single note signed by the issuer which represents the entire amount of debt in relation to the Rule 144A issuance.Section 5 of the US Securities Act 1933 requires all offers and sales of securities in the US to be registered with the Securities and Exchange Commission (SEC) unless an exemption applies. Rule 144A is a safe harbour exemption from the section 5 requirement and it enables the initial purchasers of the bonds (see Purchase Agreement below) to resell the bonds to 'qualified institutional buyers', institutional investors who meet certain criteria.For more information on Rule 144A,...
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This Practice Note considers statutory laws in relation to the delivery and acceptance of goods in sale of goods contracts in a business to business context. It highlights the relevant provisions of the Sale of Goods Act 1979 and discusses common issues in sale of goods contracts such as when and where deliveries must take place, what happens if goods are defective and how buyers are deemed to have accepted goods following delivery.For more information on the sale and supply of goods contracts generally, see Practice Note: Contracts for the sale and supply of goods鈥攂usiness to business.For an example sale of goods agreement, including bespoke provisions relating to delivery, inspection and acceptance, see Precedents: Supply of goods agreement鈥攑ro-supplier and Supply of goods agreement鈥攑ro-customer together with their associated drafting notes. For a checklist when drafting and negotiating terms of delivery, see: Drafting and negotiating delivery terms for goods鈥攃hecklist.This Practice Note does not consider delivery of goods within the context of a business to consumer contracts. For consideration of delivery in business...
This Practice Note considers the point at which property, title and risk pass from a seller to a buyer in a business to business (B2B) sale of goods transaction depending upon the nature of the goods, the intention of the parties, the terms of the contract to which the sale is subject, and the provisions of the Sale of Goods Act 1979 (SGA 1979).In a sale of goods contract it is the duty of the buyer to accept and pay for goods in exchange for the seller delivering the goods to the buyer, in accordance with the terms of the contract of sale.A sale of goods from a seller to a buyer will involve the passage of property, title and risk. The point at which that occurs depends on the nature of the goods, the intention of the parties, the terms of the contract to which the sale is subject, and the provisions of the SGA 1979.Are property and title the same?There is an apparent distinction in SGA 1979, Part...
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Distribution agreement鈥攏on-exclusive鈥攕hort form This Agreement is made on [date] Parties 1 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Manufacturer); and 2 [insert name of party] [of OR a company incorporated in England and Wales under number [insert registered number] whose registered office is at] [insert address] (Distributor); each of the Manufacturer and the Distributor being a party and together they are the parties. Background (A) The Manufacturer manufactures [and supplies] the Products. (B) The Distributor has agreed to distribute the Products on a non-exclusive basis in the Territory in accordance with the provisions of this Agreement. The parties agree: 1 Definitions 1.1 In this Agreement: Active Sales 鈥 has the meaning given in Article 8(7) of VABEO; Affiliate 鈥 means any entity that directly or indirectly controls, is controlled by, or is in under common control with, another entity where 鈥渃ontrol鈥 means the beneficial ownership of...
Letter of claim鈥攑eer-to-peer copyright infringement Letter of claim [Alleged infringer鈥檚 name and address] [Date] Dear [insert organisation name] Copyright infringement: [Name and description of copyright works] We are writing on behalf of [name and address of client] (鈥榦ur client鈥). We are writing to you about your activities and actions, which amount to an infringement of our client鈥檚 copyright. [Name of client] Our client operates in [describe: eg the computer games industry; what the copyright owner does; who in the company produces the copyright works, if relevant, how they are employed and what the copyright work is. Define or give the name of the copyright work]. Our client is the [owner OR owner-assignee OR non-exclusive licensee OR exclusive licensee] of copyright in the copyright work, a copy of which is available for inspection at our offices on request. [In accordance with section 11(2) of the Copyright Designs and Patents Act 1988 (CDPA 1988), our client owns the copyright subsisting in the copyright work because it is...
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In 2006, the deceased鈥檚 husband established a nil rate band trust (NRB) in his Will funded with a loan note from his wife in the amount of 拢285k. The only documentation for this arrangement was a loan note and the trust was not registered with the Trust Registration Service (TRS). The deceased's children wish to have the trustees appoint this to their own children. Do charges under the relevant property regime apply to the trust? Should the trustees retrospectively register the NRB trust with the TRS and report to HMRC? Relevant property trust charges In the case of the ten-year charge, the available nil rate band (NRB) is used as part of a formula to calculate the effective rate (ER), which in turn determines the actual rate of inheritance tax (IHT) to be applied to the particular trust. The actual rate is 30% of the ER. As the maximum ER is 20%, the maximum actual rate is 6%. See Practice Note: Relevant property trusts鈥攖he principal (ten-year) charge before 18 November...
Can an industrial and provident society allow proxy voting if it's rules are silent on proxy voting or do its rules have to explicitly allow proxy voting? Before 1 August 2014, all societies registered under the Industrial and Provident Societies Act 1965 (or its predecessors) were legally referred to as 'industrial and provident societies' (IPSs). Since 1 August they are referred to legally as 'registered societies' under the Co-operative and Community Benefit Societies Act 2014 (CCBSA 2014). Registered societies are regulated by the Financial Conduct Authority (FCA). There are two categories of registered society: 鈥 co-operative societies, which operate for the mutual benefit of their members, who are united by a common economic, social or cultural need or interest, and 鈥 community benefit societies, the business of which is conducted to provide services for the benefit of a community at large (not just the members of that society) IPSs, in existence as of 1 August 2014, did not automatically convert into a co-operative society or community...
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The Mayor of London has announced that City Hall will actively explore releasing parts of London鈥檚 green belt for housing development. Any release will be subject to conditions set by City Hall, aimed at supporting and maximising the delivery of affordable, high-quality, energy-efficient homes, while also increasing biodiversity and improving public access to quality green spaces.聽The announcement coincides with the launch of the 鈥楾owards a new London Plan鈥 consultation, which closes on 22 June 2025. The consultation outlines a long-term strategy for London鈥檚 development over the next 20 to 25 years, focusing on improving the quality and quantity of housing delivery and supporting infrastructure, while ensuring that development and economic growth across the city remain inclusive and sustainable. The draft London Plan is scheduled for publication in 2026, with formal adoption expected in 2028.
This week's edition of Competition weekly highlights includes, from a UK perspective, the CMA鈥檚 decision to launch a consultation on working paper outlining potential remedies in veterinary services market investigation.
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