Lending: General
This part of the topic index contains general resources on loans including subordination and syndicated loans. Please select the resource that you require by clicking on the relevant tab below.
8
resources
These resources are maintained, meaning that we monitor developments on a regular
basis and update them as soon as possible.
| 1 | Guarantees and indemnities This practice note examines legal and drafting issues relating to guarantees and indemnities where the obligations of a third party are guaranteed and/or indemnified. This practice note considers the legal distinctions between primary obligations (indemnities, performance guarantees, performance bonds) and secondary obligations (guarantees). It provides an overview of relevant contractual issues relating to guarantees and indemnities (the statute of frauds, capacity) as well as legal issues (undue influence, duress, role of directors). It also provides links to our more detailed content on performance bonds, payment guarantees, comfort letters and our standard form guarantees and indemnities. | Practice note: overview | Maintained |
| 2 | SRA Code of Conduct 2011 toolkit A toolkit to guide users through PLC's resources on the SRA Code of Conduct 2011. | Practice note: overview | Maintained |
| 3 | Execution of deeds and documents Overview of the key legal requirements relating to the execution of deeds and documents under the laws of England and Wales. It reflects the law on execution from 1 October 2009. For details of the law governing execution of deeds and documents before 1 October 2009, see Practice note, Execution of deeds and documents: pre-1 October 2009. | Practice notes | Maintained |
| 4 | Governing law and jurisdiction clauses A practice note covering the reasons for including governing law and jurisdiction clauses with drafting guidance. | Practice notes | Maintained |
| 5 | Interest clauses A note giving guidance on a standard form boilerplate clause for interest on overdue payments under a contract. It includes guidance on when an interest clause may be unenforceable as a penalty clause, and on the effect of the Late Payment of Commercial Debts (Interest) Act 1998, as amended by the Late Payment of Commercial Debts Regulations 2013. | Practice notes | Maintained |
| 6 | Quistclose trusts Ths note explains that a Quistclose trust is a form of resulting trust that may arise when funds are transferred for specific and exclusive purposes, as explained in Twinsectra Ltd v Yardley and others [2002] UKHL 12. It gives examples from case law of loans and other situations, and summarises factors to consider when advising. | Practice notes | Maintained |
| 7 | Set-off and netting This practice note explains the difference between set-off and netting. It also reviews their use in finance transactions. | Practice notes | Maintained |
| 8 | Set-off clauses A note on boilerplate clauses that create or limit contracting parties' rights to set off monetary cross-claims against each other. It also outlines the following non-contractual rights of set-off: legal set-off, equitable set-off, banker's set-off and insolvency set-off. | Practice notes | Maintained |