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York Buildings Co V MacKenzie
''York Buildings Co v MacKenzie'' (1795) 3 ER 432 is an English trusts law case concerning the duty of a fiduciary to act in the beneficiaries' interests, without entering any conflict of interest. Facts The York Buildings Co was insolvent. Its estates (land in Widdrington, a lease of Strontian Mines, and some bonds and annuities) had been sold to pay creditors. Mr MacKenzie had bought some at a public judicial auction in February 1779, and the sale was confirmed by the Court of Session after several months. Mr MacKenzie then spent substantial sums of money improving the buildings. The York Buildings Co then sought a declaration that the sale be set aside, on the ground that Mr MacKenzie had been an agent and solicitor of the court during the previous proceedings. Counsel for the appellants outlined the conventional position of the function of fiduciary responsibility in his submissions.(1795) 8 Bro 42, 63-68 Judgment The House of Lords held that an agent or solicitor of cred ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to make decisions for the benefit of a third party. An "interest" is a commitment, obligation, duty or goal associated with a particular social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other. Such a matter is of importance because under such circumstances the decision-making process can be disrupted or compromised in a manner that affects the integrity or the reliability of the outcomes. Typically, a conflict of interest arises when an individual finds themselves occupying two soc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvent
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Widdrington Station And Stobswood
Widdrington Station and Stobswood is a civil parishes in England, civil parish in the county of Northumberland, England. It has 2,767 (as of 2011) and is north-northeast of Morpeth, Northumberland, Morpeth. It includes the settlements of ''Widdrington Station'' and ''Stobswood''. History Etymology As the name suggests, Widdrington Station has a Widdrington railway station, railway station. This is on the East Coast Main Line. Geography The soil is a strong clay, producing fine crops of wheat and beans, and the surface is generally level, rising more steeply to Above Ordnance Datum, AOD to the far west of the parish and with a gentle elevation towards the old village, which commands extensive views in every direction, and the area around which formerly abounded in wood. On the horizon from here is the sea. Fields are extensively farmed, some of which are pasture, and there are remains to the west of a quarry of freestone, active in 1848. The population is spread over a la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strontian
Strontian (; gd, Sròn an t-Sìthein) is the main village in Sunart, an area in western Lochaber, Highland, Scotland, on the A861 road. Prior to 1975 it was part of Argyllshire. It lies on the north shore of Loch Sunart, close to the head of the loch. In the hills to the north of Strontian lead was mined in the 18th century and in these mines the mineral strontianite was discovered, from which the element strontium was first isolated. The village name in Gaelic, ''Sròn an t-Sìthein'', translates as the ''nose'' .e. 'point'''of the fairy hill'', meaning a knoll or low round hill inhabited by the mythological '' sídhe''. The nearby hamlets of Anaheilt, Bellsgrove, and Upper and Lower Scotstown are now generally considered part of Strontian, with Polloch several miles away on the terminus of the road to Loch Shiel. Strontian is the location of Ardnamurchan High School, the local fire station, police station and other facilities. Geology and mining history It was observed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keech V Sandford
is a foundational case, deriving from English trusts law, on the fiduciary duty of loyalty. It concerns the law of trusts and has affected much of the thinking on directors' duties in company law. It holds that a trustee owes a strict duty of loyalty so that there can never be a possibility of ''any'' conflict of interest. The case's importance derives partly from its historical context, with the South Sea Bubble. Lord King LC, who decided the case, replaced the former Lord Chancellor, Thomas Parker, 1st Earl of Macclesfield who was tried and found guilty in 1725 for accepting bribes and speculating with and losing client money in the South Sea crash. Lord Macclesfield had, probably not coincidentally previously held that a fiduciary was entitled to take money from a trust, invest it on their own behalf, and keep the profit, if they restored money to the trust. ''Keech'' reversed this, and the law in England and the UK has maintained a strict opposition to any possibility of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whelpdale V Cookson
''Whelpdale v Cookson'' (1747) 27 ER 856 is an English trusts law case, also relevant for UK company law, on the duty of loyalty owed by a trustee to beneficiaries of the trust. Facts A trustee purchased land that was owned by the trust. Judgment Lord Hardwicke gave the judgment of the court. The text in the English Report reads as follows.(1747) 27 ER 856, ie Vol. 27, p.856 See also *''Keech v Sandford is a foundational case, deriving from English trusts law, on the fiduciary duty of loyalty. It concerns the law of trusts and has affected much of the thinking on directors' duties in company law. It holds that a trustee owes a strict duty of ...'' Notes {{reflist, 2 English trusts case law United Kingdom company case law 1747 in British law Court of Chancery cases ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts 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 * Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Insolvency Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Lords Cases
A house is a single-unit residential building. It may range in complexity from a rudimentary hut to a complex structure of wood, masonry, concrete or other material, outfitted with plumbing, electrical, and heating, ventilation, and air conditioning systems.Schoenauer, Norbert (2000). ''6,000 Years of Housing'' (rev. ed.) (New York: W.W. Norton & Company). Houses use a range of different roofing systems to keep precipitation such as rain from getting into the dwelling space. Houses may have doors or locks to secure the dwelling space and protect its inhabitants and contents from burglars or other trespassers. Most conventional modern houses in Western cultures will contain one or more bedrooms and bathrooms, a kitchen or cooking area, and a living room. A house may have a separate dining room, or the eating area may be integrated into another room. Some large houses in North America have a recreation room. In traditional agriculture-oriented societies, domestic animals such a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1795 In Case Law
Events January–June * January – Central England records its coldest ever month, in the CET records dating back to 1659. * January 14 – The University of North Carolina opens to students at Chapel Hill, becoming the first state university in the United States. * January 16 – War of the First Coalition: Flanders campaign: The French occupy Utrecht, Netherlands. * January 18 – Batavian Revolution in Amsterdam: William V, Prince of Orange, Stadtholder of the Dutch Republic (Republic of the Seven United Netherlands), flees the country. * January 19 – The Batavian Republic is proclaimed in Amsterdam, ending the Dutch Republic (Republic of the Seven United Netherlands). * January 20 – French troops enter Amsterdam. * January 23 – Flanders campaign: Capture of the Dutch fleet at Den Helder: The Dutch fleet, frozen in Zuiderzee, is captured by the French 8th Hussars. * February 7 – The Eleventh Amendment to the United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
