|
Secret Commission
In English law, a secret profit is a profit made by an employee who uses his employer's premises and business facilities in order to engage in unauthorised trade on his own behalf. A common example is a bar manager who purchases beer from a brewery in his own right and sells it in the bar in competition with, or in preference to, that of his employer. The profit made thereby is a secret profit.'' Lister v Stubbs'' (1890) 45 Ch D 1, CA''Attorney-General's Reference (No 1 of 1985)'' 986QB 491, CALaw Commission (2002) 3.39-3.40, 4.40-4.45 Where the employee deceived a customer before 15 January 2007 he could be prosecuted for obtaining property by deception, the property being the customer's money and the deception that he was selling his employer's produce. Such offences were predicated on the presumption that a customer would not purchase illicit goods were he aware of their true provenance. The offence of obtaining property by deception has since been repealed and is now replaced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Law
English law is the common law legal system of England and Wales, comprising mainly criminal law and civil law, each branch having its own courts and procedures. Principal elements of English law Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Acts of Parliament, regulations and by-laws. In the absence of any statutory law, the common law with its principle of '' stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both statutory law and established principles which are derived from the reasoning from earlier decisions. Equity is the other historic source of judge-made law. Common law can be amended or repealed by Parliament. Not being a civil law system, it has no comprehensive codification. However, most of its criminal law has been codified from its common la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ownership
Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different parties. The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways. To acquire property one can purchase it with money, trade it for other property, win it in a bet, receive it as a gift, inherit it, find it, receive it as damages, earn it by doing work or performing services, make it, or homestead it. One can transfer or lose ownership of property by selling it for money, exchanging it for other property, giving it as a gift, misplacing it, or having it stripped from one's ownership through legal means such as eviction, foreclosure, seizure, or taking. Ownership is self-propagating in that the owner of any property will also own the economic benefits of that ... [...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] |
Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Criminal Law
Criminal law is the body of law that relates to crime. It prescribes conduct perceived as threatening, harmful, or otherwise endangering to the property, health, safety, and moral welfare of people inclusive of one's self. Most criminal law is established by statute, which is to say that the laws are enacted by a legislature. Criminal law includes the punishment and rehabilitation of people who violate such laws. Criminal law varies according to jurisdiction, and differs from civil law, where emphasis is more on dispute resolution and victim compensation, rather than on punishment or rehabilitation. Criminal procedure is a formalized official activity that authenticates the fact of commission of a crime and authorizes punitive or rehabilitative treatment of the offender. History The first civilizations generally did not distinguish between civil law and criminal law. The first written codes of law were designed by the Sumerians. Around 2100–2050 BC Ur-Nammu, the N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Commission
A law commission, law reform commission, or law revision commission is an independent body set up by a government to conduct law reform; that is, to consider the state of laws in a jurisdiction and make recommendations or proposals for legal changes or restructuring. The first term is prevalent in the United Kingdom, the second is prevalent in the Commonwealth, and the third one is prevalent in the United States. Work The functions of a law commission body include drafting revised versions of confusing laws, preparing consolidated versions of laws, making recommendations on updating outdated laws and making recommendations on repealing obsolete or spent laws. Law commissions often undertake projects focusing on legislation, although their mandates may be narrower or broader. List of law commissions *: Australian Law Reform Commission *: the Law Commission of Canada was established by the Law Commission of Canada Act on July 1, 1997 and was eliminated in 2006. It replaced the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud By Abuse Of Position
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud Act 2006
The Fraud Act 2006 (c 35) is an Act of the Parliament of the United Kingdom which affects England and Wales and Northern Ireland. It was given royal assent on 8 November 2006, and came into effect on 15 January 2007. Purpose The Act gives a statutory definition of the criminal offence of fraud, defining it in three classes - fraud by false representation, fraud by failing to disclose information, and fraud by abuse of position. It provides that a person found guilty of fraud was liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to ten years on conviction on indictment. This Act largely replaces the laws relating to obtaining property by deception, obtaining a pecuniary advantage and other offences that were created under the Theft Act 1978. These offences attracted much criticism for their complexity and difficulty in proving at court. Much of the Theft Act 1978 has been repealed, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conspiracy To Defraud
Conspiracy to defraud is an offence under the common law of England and Wales and Northern Ireland. England and Wales The standard definition of a conspiracy to defraud was provided by Lord Dilhorne in '' Scott v Metropolitan Police Commissioner'', when he said that Conspiracy to defraud therefore contains two key elements; that the conspiracy involved dishonesty, and that if the conspiracy was undertaken, the victim's property rights would be harmed. This does not require the defendants' actions to directly result in the fraud; in '' R v Hollinshead'', the House of Lords held that producing devices designed to alter electricity meter readings constituted conspiracy to defraud, even though the actual fraud would be carried out by members of the public rather than the conspirators. In two situations, it will not even be necessary for the actions to directly lead to any kind of financial loss for the victim; these are when the conspirators plan to deceive a person holding public offi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FHR European Ventures LLP V Cedar Capital Partners LLC
is a landmark decision of the United Kingdom Supreme Court which holds that a bribe or secret commission accepted by an agent is held on trust for his principal. In so ruling, the Court partially overruled '' Sinclair Investments (UK) Ltd v Versailles Trade Finance Ltd'' (a decision of the Court of Appeal of England and Wales) in favour of '' The Attorney General for Hong Kong v Reid (New Zealand) (UKPC)'', a ruling from the Judicial Committee of the Privy Council on appeal from New Zealand. Facts ''Cedar Capital Partners LLC'' ("Cedar" or "the defendants") provided consultancy services to the hotel industry. Cedar agreed to act as the agent of FHR European Ventures LLP ("the Purchaser" or "FHR" or "the claimants") in negotiations for purchase of share capital in Monte Carlo Grand Hotel SAM from Monte Carlo Grand Hotel Ltd ("the Vendor" or "Monte Carlo"). * In September 2004, Cedar entered into an agreement with the Vendor which provided for the payment to Cedar of a €10m fee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century. The term "debt" comes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theft
Theft is the act of taking another person's property or services without that person's permission or consent with the intent to deprive the rightful owner of it. The word ''theft'' is also used as a synonym or informal shorthand term for some crimes against property, such as larceny, robbery, embezzlement, extortion, blackmail, or receiving stolen property. In some jurisdictions, ''theft'' is considered to be synonymous with ''larceny'', while in others, ''theft'' is defined more narrowly. Someone who carries out an act of theft may be described as a "thief" ( : thieves). ''Theft'' is the name of a statutory offence in California, Canada, England and Wales, Hong Kong, Northern Ireland, the Republic of Ireland, and the Australian states of South Australia Theft (and receiving). and Victoria. Theft. Elements The '' actus reus'' of theft is usually defined as an unauthorized taking, keeping, or using of another's property which must be accompanied by a '' mens rea'' of dish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
