What does Perpetuity mean? In legal practice, a perpetuity describes an obligation, right or payment stated to last indefinitely—for example, a rent, annuity, royalty or licence fee “in perpetuity”—and in valuation it refers to a constant cash flow assumed to continue forever. The word is descriptive, not a statutory definition, but it intersects with the rule against perpetuities, which limits how long contingent property interests (such as future interests under trusts, options over land and certain rights of pre-emption) may remain capable of vesting. In England and Wales, the Perpetuities and Accumulations Act 2009 sets a fixed statutory perpetuity period and modernises the “wait...
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The principal legislation regulating trusts in the Cayman Islands is the Trusts Act (2021 Revision) (the Trusts Act). That Act draws together several further enactments relevant to Cayman trusts, including, without limitation, the Special Trusts (Alternative Regime) Law 1997 and the Trust (Amendment) (Immediate effect and Reserved Powers) Law 1998, as well as other pertinent measures. See also The Rule on Perpetuities. It is important to recognise that Cayman Islands trusts law is rooted in English common law and Equity, which continue to inform the interpretation and practical application of trust law in the Cayman Islands. Nevertheless, as the Cayman Islands’ trusts regime has developed over time, a series of statutory distinctions has arisen between the Cayman Islands and England, and therefore it should not be presumed that Cayman Islands trusts law will be applied in precisely the same way as English trusts law in every case or circumstance...
When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...