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Kleinwort Benson Ltd V Birmingham City Council
''Kleinwort Benson Ltd v Birmingham CC'' 9964 All ER 733 is an English unjust enrichment law case, concerning to what extent enrichment of the defendant must be at the expense of the claimant. It rejected a defence of "passing on" the gain against a claim of unjust enrichment. Facts Kleinwort Benson, a bank, paid Birmingham City Council money under interest rate swap agreements that were later declared to be ''ultra vires'' and void by the House of Lords.'' Hazell v Hammersmith and Fulham LBC'' 9922 AC 1 The council argued it did not have to repay the money because the bank had passed on its losses through hedging transactions long before. Judgment The Court of Appeal rejected that there could be a passing on defence. It rejected that there was any analogy to compensating for loss, so that it could be avoided or passed on. First, the payments received by the bank under the hedge contract were not causally connected with the payments of the bank under the swap contract. Second, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal Of England And Wales
The Court of Appeal (formally "His Majesty's Court of Appeal in England", commonly cited as "CA", "EWCA" or "CoA") is the highest court within the Courts of England and Wales#Senior Courts of England and Wales, Senior Courts of England and Wales, and second in the legal system of England and Wales only to the Supreme Court of the United Kingdom. The Court of Appeal was created in 1875, and today comprises 39 Lord Justices of Appeal and Lady Justices of Appeal. The court has two divisions, Criminal and Civil, led by the Lord Chief Justice of England and Wales, Lord Chief Justice and the Master of the Rolls, Master of the Rolls and Records of the Chancery of England respectively. Criminal appeals are heard in the Criminal Division, and civil appeals in the Civil Division. The Criminal Division hears appeals from the Crown Court, while the Civil Division hears appeals from the County Court (England and Wales), County Court, High Court of Justice and Family Court (England and Wales ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Void (law)
In law, void means of no legal effect. An action, document, or transaction which is void is of no legal effect whatsoever: an absolute nullity—the law treats it as if it had never existed or happened. The term void ''ab initio'', which means "to be treated as invalid from the outset", comes from adding the Latin phrase ''ab initio'' (from the beginning) as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract is treated as being void ''ab initio''. The frequent combination "null and void" is a legal doublet. The term is frequently used in contradistinction to the term "voidable" and "unenforceable". Definitions '' Black's Law Dictionary'' defines 'void' as: In the case of a contract, this means there is no legal obligation, therefore there can be no breach of contract since the contract is null, but there may be an implied contract which requires the recipient of goods or services provided to pay their reasonable value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Derivatives Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community * E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Unjust Enrichment Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community * Engli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goff & Jones
''Goff and Jones on the Law of Unjust Enrichment'' (formerly ''Goff and Jones on the Law of Restitution'', usually simply abbreviated to ''Goff & Jones'') is the leading authoritative English law textbook on restitution and unjust enrichment. First written by Robert Goff and Gareth Jones, it is presently in its tenth edition. It is published by Sweet & Maxwell and forms part of the Common Law Library. As a textbook it is somewhat remarkable in that although the first edition was published in 1966, it was not until 1991 (25 years later) that the House of Lords formally recognised unjust enrichment as a separate branch of jurisprudence. It is notable that a number of the key decisions in the field have been handed down by Lord Goff, and often reflect the analysis which has previously expressed academically in ''Goff & Jones''. For example, Goff's judgment in '' Barclays Bank Ltd v W J Simms, Son and Cooke (Southern) Ltd'' 9801 QB 677 was described as "the ''Donoghue v Steven ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Authorities Swaps Litigation
The local authorities swaps litigation (sometimes called simply the swaps cases) refers to a series of cases during the 1990s under English law relating to interest rate swap transactions entered into between banks and local authorities. The House of Lords ruled that such transactions were unlawful. As a result of the decision over 200 separate actions were filed as hundreds of interest rate swap contracts had to be unwound by the courts at great expense.In his judgment in Re Interest Rate Swap Litigation' (unreported, 28 November 1991) Hirst J recorded that "As at 30th October, 1991 there were 203 extant swap actions, 18 had been settled after the issue of proceedings, 2 had been discontinued and 4 are in progress in the Chancery Division. Although in the vast majority of cases the banks are plaintiffs, there are 10 actions involving 8 local authorities in which a local authority is plaintiff because they are net losers under their swap transactions. The number of plaintiff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hazell V Hammersmith And Fulham LBC
O ''Hazell v Hammersmith and Fulham LBC'' 9922 AC 1 is an English administrative law case, which declared that local authorities had no power to engage in interest rate swap agreements because they were beyond the council's borrowing powers, and that all the contracts were void. Their actions were held to contravene the Local Government Act 1972. Prior to the judgment, a large number of local authorities had entered into such swap transactions. Accordingly, the decision of the House of Lords declaring such practices to be unlawful set off a torrent of collateral litigation unwinding such swaps.In his judgment, in Re Interest Rate Swap Litigation' (unreported, 28 November 1991), Hirst J recorded that "As at 30th October, 1991 there were 203 extant swap actions, 18 had been settled after the issue of proceedings, 2 had been discontinued and 4 are in progress in the Chancery Division. Although in the vast majority of cases the banks are plaintiffs, there are 10 actions involving ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, it for many centuries had a judicial function. It functioned as a court of first instance for the trials of peers, for impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and in 1948, the use of special courts for such trials was abolished. The procedure of impeachment became seen as obsolete. In 2009, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ultra Vires
('beyond the powers') is a Latin phrase used in law to describe an act which requires legal authority but is done without it. Its opposite, an act done under proper authority, is ('within the powers'). Acts that are may equivalently be termed "valid", and those that are termed "invalid". Legal issues relating to can arise in a variety of contexts: * Companies and other legal persons sometimes have limited legal capacity to act, and attempts to engage in activities beyond their legal capacities may be . Most countries have restricted the doctrine of in relation to companies by statute. * Similarly, statutory and governmental bodies may have limits upon the acts and activities which they legally engage in. * Subordinate legislation which is purported passed without the proper legal authority may be invalid as beyond the powers of the authority which issued it. Corporate law In corporate law, describes acts attempted by a corporation that are beyond the scope of powers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anthony Evans (judge)
Sir Anthony Howell Meurig Evans, (born 11 June 1934) is an internationally known jurist, judge, and barrister, and a former Lord Justice of Appeal. He currently holds the office of Chief Justice of the Dubai International Financial Centre Courts and is the first person to hold that office. Sir Anthony was appointed to the post in April 2005 by Sheikh Maktoum bin Rashid Al Maktoum, who was then ruler of Dubai. He formerly held high judicial office in the courts of England and Wales, sitting on the Court of Appeal and the Queen's Bench Division of the High Court of Justice The High Court of Justice in London, known properly as His Majesty's High Court of Justice in England, together with the Court of Appeal and the Crown Court, are the Senior Courts of England and Wales. Its name is abbreviated as EWHC (Englan ..., including the Commercial Court (which is part of the Queen's Bench Division. References 1934 births 20th-century English judges Living people Lor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swap (finance)
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.Financial Industry Business Ontology Version 2 Annex D: Derivatives, EDM Council, Inc., Object Management Group, Inc., 2019 The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the ''legs'' of the swap. The legs can be almost anything but usually one leg involves cash flows based on a |
Birmingham City Council
Birmingham City Council is the local government body responsible for the governance of the City of Birmingham in England, which has been a metropolitan district since 1974. It is the most populated local council area in the United Kingdom (excluding counties) with 101 elected councillors representing over one million people, in 69 wards. The council headquarters are at the Council House in the city centre. The council is responsible for running nearly all local services, with the exception of those run by joint boards. The provision of certain services has in recent years been devolved to several council constituencies, which each have a constituency committee made up of councillors from that district. It is part of the West Midlands Combined Authority. History The original Charter of Incorporation, dated 31 October 1838, was received in Birmingham on 1 November, then read in the Town Hall on 5 November with elections for the first Birmingham Town Council being held on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
