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Doctrine Of Marshalling
Marshalling is an Equity (law), equitable doctrine applied in the context of lending. It was described by Leonard Hoffmann, Baron Hoffmann, Lord Hoffmann as: In the United States, Harlan F. Stone, Justice Stone described that: General principles It has been held that marshalling applies to all forms of secured indebtedness, including liens. A claim for marshalling will not be allowed by the courts where it would be unjust or unfair to allow the junior creditor to marshal, and therefore: #It cannot interfere or prejudice the position of the senior creditor. #It cannot prejudice third parties. #It must be brought in a fair and timely fashion Marshalling is not available to a second mortgagee where the first mortgagee is contractually bound to look first to the other property to satisfy the debt due to him. While quite similar to the doctrine of subrogation, the two are quite distinct equitable remedies: :* Subrogation applies where there is only one debt. :* Subrogation ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity (law)
Equity is a particular body of law that was developed in the English Court of Chancery. Its general purpose is to provide a remedy for situations where the law is not flexible enough for the usual court system to deliver a fair resolution to a case. The concept of equity is deeply intertwined with its historical origins in the common law system used in England. However, equity is in some ways a separate system from common law: it has its own established rules and principles, and was historically administered by separate courts, called " courts of equity" or "courts of chancery". Equity exists in domestic law, both in civil law and in common law systems, and in international law. The tradition of equity begins in antiquity with the writings of Aristotle (''epieikeia'') and with Roman law (''aequitas''). Later, in civil law systems, equity was integrated in the legal rules, while in common law systems it became an independent body of law. Equity in common law jurisdictions (gener ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leonard Hoffmann, Baron Hoffmann
Leonard Hubert "Lennie" Hoffmann, Baron Hoffmann (born 8 May 1934) is a retired senior South African–British judge. He served as a Lord of Appeal in Ordinary from 1995 to 2009. Well known for his lively decisions and willingness to break with convention, he has had an especially large impact on the interpretation of contracts, shareholder actions in UK company law, in restricting tort liability for public authorities, human rights and intellectual property law, in particular patents. Currently, he serves as a Non-Permanent Judge of the Court of Final Appeal of Hong Kong. Early life Born 8 May 1934 in Cape Town, Leonard Hubert Hoffmann was the son of a well-known solicitor who co-founded what has become Africa's largest law firm, Edward Nathan Sonnenbergs. Education He was educated at the University of Cape Town and then attended The Queen's College, Oxford, as a Rhodes Scholar, where he studied for the BCL degree and won the Vinerian Scholarship. Between 1961 and 1973, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harlan F
Harlan is a given name and a surname which may refer to: Surname *Bob Harlan (born 1936 Robert E. Harlan), American football executive *Bruce Harlan (1926–1959), American Olympic diver *Byron B. Harlan (1886–1949), American politician *Byron G. Harlan (1861–1936), American singer * Jack Rodney Harlan (1917–1998), American botanist *James Harlan (Iowa politician), (1820–1899), American politician and lawyer *James Harlan (Kentucky politician) (1800–1863), American politician and lawyer *Jan Harlan (born 1937), German-American film director and producer *John Harlan (announcer) (1925–2017), American television announcer *John Marshall Harlan (1833–1911), United States Union Army officer and Supreme Court Associate Justice *John Marshall Harlan (1899–1971), former Associate Justice of the United States Supreme Court *Josiah Harlan (1799–1871), American mercenary *Kevin Harlan (born 1960), American sportscaster *Otis Harlan (1865–1940), American actor *Patrick Harl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liens
A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the person who has the benefit of the lien is referred to as the ''lienor'' or ''lien holder''. The etymological root is Anglo-French ''lien'', ''loyen'' "bond", "restraint", from Latin ''ligamen'', from ''ligare'' "to bind". In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the US, a lien characteristically refers to '' nonpossessory'' security interests (see generally: ). In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usage of the term in the US, in other countries it refers to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McMillan LLP
McMillan LLP is a Canadian business law firm serving public, private and not-for-profit clients across various industries in North America and around the world. McMillan LLP is the only national Canadian law firm with an office in Hong Kong, in addition to its offices across Canada in Vancouver, Calgary, Toronto, Ottawa and Montréal''.'' The firm has industry groups in different sectors such as technology, energy, oil and gas, mining, construction and infrastructure, automotive, and transportation. Founding Firms and Mergers The firm was founded by Newton Rowell in 1903. At this time, it consisted of three lawyers and was called Rowell, Reid and Wood. By 1910, the firm more than doubled to seven lawyers, a size it kept until the mid-twenties. Gordon McMillan joined the firm in 1921 and practiced for over half of a century, bringing notable clients such as Monarch and BorgWarner. In 1926, Rhodes Scholar Roland Michener and Osgoode Hall graduate Daniel Lang formed Lang Mich ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subrogation
Subrogation is the assumption by a third party (such as a second creditor or an insurance company) of another party's legal right to collect a debt or damages. It is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for one's own benefit. A right of subrogation typically arises by operation of law, but can also arise by statute or by agreement. Subrogation is an equitable remedy, having first developed in the English Court of Chancery. It is a familiar feature of common law systems. Analogous doctrines exist in civil law jurisdictions. Subrogation is a relatively specialised field of law; entire legal textbooks are devoted to the subject. Doctrine Countries which have inherited the common law system will typically have a doctrine of subrogation, though its doctrinal basis in a particular jurisdiction may vary from that in other jurisdictions, depending upon the extent to which equity remains a distinct body of law in that jur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Bankruptcy Institute
The American Bankruptcy Institute is an organization of over 13,000 bankruptcy and insolvency professionals, including attorneys, judges, law professors, accountants, investment bankers and turn-around specialists. It bills itself as the "largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency." The ABI disseminates information by organizing conferences and publishing scholarly journals, including the American Bankruptcy Institute Law Review The ''American Bankruptcy Institute Law Review'' is a biannual law journal published by St. John's University School of Law and the American Bankruptcy Institute (ABI). A free digital edition of the ''Law Review'' is distributed to all Americ .... It also holds panels bringing together multiple viewpoints on particular issues relating to insolvency. In addition, the ABI has established a commission to study and propose reforms to Chapter 11 law governing bankruptcies.3 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil Law (legal System)
Civil law is a legal system originating in mainland Europe and adopted in much of the world. The civil law system is intellectualized within the framework of Roman law, and with core principles codified into a referable system, which serves as the primary source of law. The civil law system is often contrasted with the common law system, which originated in medieval England. Whereas the civil law takes the form of legal codes, the law in common law systems historically came from uncodified case law that arose as a result of judicial decisions, recognising prior court decisions as legally-binding precedent. Historically, a civil law is the group of legal ideas and systems ultimately derived from the ''Corpus Juris Civilis'', but heavily overlain by Napoleonic, Germanic, canonical, feudal, and local practices, as well as doctrinal strains such as natural law, codification, and legal positivism. Conceptually, civil law proceeds from abstractions, formulates general principles, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scots Law
Scots law () is the legal system of Scotland. It is a hybrid or mixed legal system containing civil law and common law elements, that traces its roots to a number of different historical sources. Together with English law and Northern Ireland law, it is one of the three legal systems of the United Kingdom.Stair, General Legal Concepts (Reissue), para. 4 (Online) Retrieved 2011-11-29 Early Scots law before the 12th century consisted of the different legal traditions of the various cultural groups who inhabited the country at the time, the Gaels in most of the country, with the Britons and Anglo-Saxons in some districts south of the Forth and with the Norse in the islands and north of the River Oykel. The introduction of feudalism from the 12th century and the expansion of the Kingdom of Scotland established the modern roots of Scots law, which was gradually influenced by other, especially Anglo-Norman and continental legal traditions. Although there was some indirect Roman la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Reed, Lord Reed
Robert John Reed, Baron Reed of Allermuir, (born 7 September 1956) is a British judge who has been President of the Supreme Court of the United Kingdom since January 2020. He was the principal judge in the Commercial Court in Scotland before being promoted to the Inner House of the Court of Session in 2008. He is an authority on human rights law in Scotland and elsewhere; he served as one of the UK's ''ad hoc'' judges at the European Court of Human Rights. He was also a Non-Permanent Judge of the Court of Final Appeal of Hong Kong. Early life Reed was educated at George Watson's College in Edinburgh (where he was dux), and studied at the School of Law of the University of Edinburgh, taking a first class honours LLB and winning a Vans Dunlop Scholarship. He then took a DPhil at Balliol College, Oxford, with a doctoral thesis on "Legal Control of Government Assistance to Industry", and was admitted to the Faculty of Advocates in 1983. Legal career Reed was Standing Junior ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Supreme Court
The Supreme Court of the United Kingdom (initialism: UKSC or the acronym: SCOTUK) is the final court of appeal in the United Kingdom for all civil cases, and for criminal cases originating in England, Wales and Northern Ireland. As the United Kingdom’s highest appellate court for these matters, it hears cases of the greatest public or constitutional importance affecting the whole population. The Court usually sits in the Middlesex Guildhall in Westminster, though it can sit elsewhere and has, for example, sat in the Edinburgh City Chambers, the Royal Courts of Justice in Belfast, and the Tŷ Hywel Building in Cardiff. The United Kingdom has a doctrine of parliamentary sovereignty, so the Supreme Court is much more limited in its powers of judicial review than the constitutional or supreme courts of some other countries. It cannot overturn any primary legislation made by Parliament. However, as with any court in the UK, it can overturn secondary legislation if, for an examp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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