Land law Essay Example | Topics and Well Written Essays - 1500 words - 4

Land law - Essay Example If the court issues an order to seize the property of the debtor after the judgment, it is called writ of execution. It must be noted that attachment is a prejudgment remedy either at the time of a lawsuit or immediately after it is filed. However, the final decision is taken by the court. The United Kingdom does not have unique or singular law regarding bankruptcy. England and Wales follow same system whereas Northern Ireland and Scotland have another system of their own. If the given scenario is related to Scotland or Northern Ireland, and if the property is the home owned by Bill, then the section 40 of the 1985 Act will be applicable to the case. Instead, if the system of Wales and Ireland is applicable to the context, Alan will have to rely on the Part IX of the Insolvency Act 1986. At this juncture (as the jurisdiction is not specified) the system of Northern Ireland and Scotland is taken for case analysis. The section 40 of the 1985 Act protects the interests of the debtorâ₠¬â„¢s (here Bill) family and prevents the creditor (here Alan) from selling the debtor’s ‘family home’ without either ‘relevant consent’ or a court order. ... esent or former spouse or civil partner without the debtor, or by the debtor without a spouse or civil partner but with a child of the family† (Insolvency - personal and corporate, n.d.). Hence, if Bill’s property is the family home, Alan needs to comply with the section 40. This section clearly states how the consent can be obtained for the proceeding of the sequestration of a family home. Referring to section 40, if Bill’s spouse, civil partner, or former spouse or civil partner lives in the home (with or without the debtor), it is necessary to obtain the consent of the spouse of civil partner to proceed with the sequestration (Insolvency - personal and corporate). If the debtor lives in the home with a child but without a spouse or civil partner, then the ‘relevant consent’ can be obtained from the debtor. If the ‘relevant consent’ is not obtained from the parties concerned, Alan has to obtain a court order to attach the property of Bi ll (ibid). In this case, it is advisable for Alan to obtain a court order because other options may not be so sensible. B. the property is a tenanted office block Under this case, attachment of property will be a difficult task if the agreement between Bill and the tenant was formed before the agreement made between Alan and Bill. It is the duty of the creditor to make certain that the security offered for the borrowing is free from any liability arising out of issues like tenancy. Hence, if Bill’s office block was tenanted at the time of the agreement between Alan and Bill, Alan cannot attach the property of Bill unless the tenant is willing to vacate the office block. On the other hand, if Bill’s office block was tenanted after the agreement between Bill and Alan was made, Alan may get a court order for the

Fiscal policy and regulation Term Paper Example | Topics and Well Written Essays - 2250 words

Fiscal policy and regulation - Term Paper Example The scope of Fiscal policy is wide and involves several government functions all of which are aimed at ensuring spending is contained and restricted to those areas cum sectors where they have the greatest and positive effect on the economy. (Creel et al pp.8) The main entities for the fiscal policy are government revenues, government expenditures and debt management. Fiscal policy is usually as a result of a well thought process mainly involving the best economic minds that a country may have who are organized as Public Service Program or Capital Improvements Program. This paper will examine the various aspects of Fiscal Policy and its use by the government to achieve its various economic milestones. (Weil pp.1) Besides these, we will look at the main proponents of the Fiscal policy and the main reasons that fail the working of the policy. At the end of this essay, the reader should be able to understand fully the workings of the Fiscal policy and its various aspects. In the end, one maybe able to give an indication of why Fiscal policy may not work as intended. It is important though to note that though the impact of economic changes are felt by certain groups in the economy such as family units especially when the government offers tax cuts, the disposable income of this family increases. (Mont pp.75) The fiscal policy is not aimed at an examination of such mild changes or impacts but is focused on the effects of changes in the government budget as a whole. Fiscal policy is usually looked one sided but a study of it reveals two types of fiscal policies which are not necessarily founded on different bases but are as a result of budget movement. These budget movements on the other hand are determined by the finances available to the government for the purpose of meeting its budgetary requirements. (Creel et al pp.32). These are either budget deficits or budgetary surplus