Introduction
At first glance, the legislation in offshore jurisdictions makes the repatriation of assets seemingly impossible, providing the impossibility defence for debtors unwilling to relinquish assets owed to creditors. Offshore jurisdictions may use clever tactics such as duress and flight clauses to make repatriation of the assets in protection trusts difficult, but onshore jurisdictions are not to be fooled; the court will either declare the trust a sham, void the transaction, threaten professional negligence against the attorney or hold the settlor in contempt until compliance. As long as the debtor is physically residing in the onshore jurisdiction and subject to the laws of that nation, the court can effectively through coercive means attempt to repatriate the assets from the trust.
Sham Trusts
In Snook v London and West Riding Investments Ltd [1967] 2 QB 786, 802, Lord Diplock defined sham as, ‘acts done or documents executed by the parties to the “sham” which are intended by them to give to third parties or to the court the appearance of creating between the parties legal rights and obligations different from the actual legal rights and obligations (if any) which the parties intend to create. But one thing, I think, is clear in legal principle, morality and the authorities ... that for acts or documents to be a “sham” with whatever legal consequences follow from this, all the parties thereto must have a common intention that the acts or documents are not
When American settlers started migrating into Texas in the early 1820’s they brought with them the same culture and political agendas that would be similar to the Confederates in the Civil War. Mexico had recently abolished slavery but the new settlers were committed to defy slavery and producing tension with the Mexican government over land claim and political rights (McPherson and Hogue, 2010). After the loss at the Alamo and eventual win at the Battle of San Jacinto in 1836, Texas won their independence from Mexico (McPherson and Hogue, 2010). Much like the bickering of the Confederate south, the Polk administration was bent on acquiring land and expanding after the Mexican-American War. Congress, in 1847, eventually saw this acquiring of states as unconstitutional and that the Mexican-American
This memo has been created to present all current proposals in regard to the supply of widgets for Gloria Smithson’s company to meet the requirements of current orders by customers. Though the ideal supply of widgets from domestic based companies is advised for several reasons, we will examine other options that may be more beneficial for Mrs. Smithson’s company. We will look at a local proposal coming from the same area as
The U.S. economy has seen many hardships within the last decade. The economy has suffered from a recession that is still threatening to cripple some Americans and unemployment has been at an all time high. People have lost homes and jobs and many businesses have gone bankrupt simply trying to survive. However, in the midst of this economic crisis some companies have managed to survive. Many companies, approximately 36% of them, have found a way to avoid economic collapse by cutting costs (Job Outsourcing Statistics, 2014). One of the most popular cost reducing strategies of our time is called outsourcing.
Every business organization has a social responsibility in ensuring that the environment it operates in is protected. Many companies have identified that they have a major role to play in protecting the natural habitat and ensuring that business is not only about making profits. Some organizations are setting aside funds that are developed in the protection of the environment while other organizations are setting a tree-planting day as part of their annual calendar. Companies have legal and ethical responsibilities that guide the organization in making sure that the environment is taken care of. The natural resource depletion and the environmental pollution have led to conservation groups setting rules that govern the company in utilizing natural resources.
While an individual can have legitimate reasons for creating a foreign trust or being involved in transactions with a foreign trust, the initiative can contribute in the need for several filing responsibilities. These filing requirements and reporting responsibilities can in turn lead to serious significant penalties if
In this case, Kallessi Mc Tavish is the principal, Maya Stork is the agent and the new suppliers are the third party. Firstly, this is a case of ratification as all the requirements of ratification are met, i.e. there is a clear principal in existence. This requirement can be contradicted with the case of Kelner V Baxter 1866 LR 2 CP 174, where the directors ordered goods before the company was even formed and so could not be held to pay for the goods. Principal is in capacity. Ratification is timeous and can be contradicted with the case Goodall V Bilsland 1909 SC 1152, where the solicitor had 10 days to appeal against a license renewal of a wine merchant and won the case but the wine merchant appealed against this as the solicitor didn’t
This article analyzes and evaluates the principle of universal jurisdiction and the difficulties in its implementation. There is still a number of obstacles legal and non legal to proper and better implementation even if this principle is well known. About the principles of universal jurisdiction can something original or new be discovered or asserted? Universal jurisdiction is one of the talked topics in today’s world. Concept of universal criminal jurisdiction is very complex. When we talk about universal jurisdiction sovereignty also comes to raise its voice.
The legal interests of these children are significant. The children, as do other undocumented immigrants, in removal proceedings have the right to a Fifth Amendment protection of procedural due process. Mathews v. Eldridge established a case-by-case due process analysis that may create a right to appointed counsel in a civil proceeding. Therefore, it can be reasonably said that due process maybe adaptable to the children in removal proceedings and calls for such procedural protections as the particular situation demands.
The remaining cases contain examples of secret trusts created for a multitude of reasons; for example, there are cases where the testator was persuaded to create the secret trust by a deceitful secret trustee, cases where the testator wanted to change his will at a very late stage and it appeared easier to create a secret trust than to amend the will, cases where the secret trust arose as a result of a poorly drafted will, cases where the secret trust was created in an apparent attempt to avoid tax liability, cases where the secret trust was created as a result of legal advice and cases where the secret trust arose out of the testator's indecisiveness. It is clear that the doctrine was not developed to allow testators to provide secretly for illegitimate families, or indeed for reasons involving the Mortmain Acts. The obvious conclusion to draw is that any failure to perform a secret trust is a fraud, regardless of why the secret trust was created.
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A comparison of Jurisdictions in the UK and USA In this report I will be comparing the differences and similarities between legal jurisdictions between the United Kingdom and the United States of America. I intend to outline some of the key differences between the two systems. In terms of the US and UK Supreme Courts they share a hand full of similarities, both handle the highest appeals court within the jurisdictions on pivotal domestic law.
According to Merriam-Webster's collegiate dictionary (1993), the term adoption refers to "legally take another person’s child into your own family and take care of him or her as your own child". But in a simpler way to describe adoption is by saying "Adoption is a wonderful family building option". With a great array of reasons why people adopt, one those reason that deserves a special mention is "infertility". The inability to have a biological child is the most powerful reason to adopt nowadays. Despite adoption being an act of love, international adoption is one of the challenges in the modern world. Hurdles and Law restrictions make it harder for families who are willing to do so but don't fill society expectations. When a single person
After winning season twelve of Project Runway there has been countless emails of getting replicas of what was made on the show. There have also been request for original dresses to be made for numerous celebrities’. With that being said I have decided to start my own clothing company “Queen Chic”. We will not only sell and manufacture in the states, but this will be a global venture with manufacturers in china.
The purpose of this assignment is to discuss the creation and application the case law resulting from the decision in Donoghue v Stevenson . This decision is often cited in relation to the tort of negligence and a duty of care. As such it could be misunderstood as being the preeminent case for the principles of negligence or duty of care alone. It is however the landmark precedent case for the tort of negligence outside of a contract when taking into account ‘duty of care’ and the ‘neighbour priciple’.
Offshore banking is the action of having a bank account outside of the country of residence. Typically it offers many advantages like greater privacy, low or no taxation, easy access to deposits and protection against local, political, or financial instability, but has also been popular for its use of illegal practices like money laundering and tax evasion. Those against offshore banking view its illegal reputation and predict that it will only cause further damage like providing fund for terrorism or holding underground economies. However other experts believe that offshore banking is a safe haven for depositors and has had a substantial impact on the international economy in today’s world.