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assignor

Overview page. Subjects: Law.

An assignor transfers (assigns) an existing right to another person (the assignee) by an act of assignment (see transfer), which simultaneously gives the assignee the ability to enforce the...

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authorized guarantee agreement

Overview page. Subjects: Law.

(AGA)

An agreement made between landlord and tenant on an assignment of the lease to a third party, whereby the tenant guarantees the performance of the terms of the lease by the...

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business tenancy

Overview page. Subjects: Business and Management — Law.

A tenancy of premises that are occupied for the purposes of a trade, profession, or employment. Business tenants have special statutory protection. If the landlord serves a notice to quit,...

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chose

Overview page. Subjects: Law.

N.

A thing. Choses are divided into two classes. A chose in possession is a tangible item capable of being actually possessed and enjoyed, e.g. a book or a piece of furniture. A...

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deed of arrangement

Overview page. Subjects: Law — Business and Management.

A written agreement between a debtor and his or her creditors that has been registered as such with the Insolvency Service. The agreement may take the form of a composition of debts or a...

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lease

Overview page. Subjects: Law — Economics.

A contract giving the right to use land or buildings for a set period, in return for payment of ground rent to the landlord. The rent payable may be fixed, or subject to periodic review....

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legal lease

Overview page. Subjects: Law.

A contract or grant that creates an estate in land for a term of years absolute. A legal lease must normally be created by deed; however, there are no formal requirements for the creation...

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novation

Overview page. Subjects: Economics — Law.

(Latin novare, to make new)

A term used to describe the agreed substitution of a new contract or contracting party for an old one. Rescission of the old contract forms...

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priority of assignment

Overview page. Subjects: Law.

The order in which two or more assignments of a chose in action takes effect. This order is determined according to the date of receipt of the notice of assignment by the legal owner of the...

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volunteer

Overview page. Subjects: Law.

N.

A person who, in relation to any transaction, has not given valuable consideration.

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