Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Factor definition

What does Factor mean? In receivables finance, a factor is the receivables purchaser that provides a factoring facility, buying a supplier’s trade debts (book debts/invoices) and advancing funds, often with credit control, ledger management and collections. The term is descriptive in this context rather than a defined statutory term. A factor typically acquires receivables under a factoring agreement or receivables purchase agreement, on a disclosed or confidential basis, and either with recourse (supplier retains credit risk) or non-recourse (credit risk transfer, often supported by credit insurance or limits). The transfer is effected by assignment/assignation of receivables and related rights, with notice to...

Financial Remedies: Assessing Parties’ Needs under Section 25 MCA 1973/CPA 2004, Case Law, Non‑Matrimonial Property and Family Justice Council Guidance (England and Wales)

Published by a LexisNexis Family expert

Practice notes

PrACTice Note

This Practice Note explains the statutory duty on the court to consider the parties’ needs in line with the section 25 checklist in the Matrimonial Causes Act 1973, and the equivalent provisions for civil partners in the Civil partnership Act 2004, Sch 5 Pt 5. It also reviews relevant authorities on needs, the treatment of non-matrimonial/civil partnership property, and the Family Justice Council’s guidance on needs...

Under MCA 1973, s 25(2)(b), the court must have regard to the financial needs, obligations and responsibilities that each spouse has, or can be expected to have, in the foreseeable future. The mirror provision for civil partners appears in CPA 2004, Sch 5 Pt 5, para 21(2)(b)...

The welfare of any child of the family, while a minor, is the court’s first consideration. An appraisal of the parties’ needs is not undertaken in isolation; the court assesses all the circumstances and the remaining elements of the section 25 checklist—see: Factors considered by the court on financial provision—the section 25 checklist...

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Web page updated on 21/05/2026

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