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Glossary of Commercial Property Terms

Understanding the language used in the commercial property world is important if you want to avoid costly mistakes and protect your interests. Below is a glossary of some of the most commonly used terms.

Settlement Agreements: The Basics

A Settlement agreement (formerly known as a compromise agreement) is a legally binding agreement between an employee and their employer by which the parties compromise an employee’s contractual and/or statutory claims. Settlement agreements are most commonly entered into on termination of employment, although they can be used where employment is continuing.

How to carry out successful remote video trials

In these uncertain times, courts are managing proceedings in a variety of different ways from telephone hearings for applications to trials by video conferencing.

We recently conducted a remote trial in the Reading County Court by which all parties, legal representatives and witnesses attended by video conference.

How effective are Personal Guarantees in Franchise Agreements?

Franchising

A guarantee is a contractual promise to pay the liabilities of another.
When a franchise agreement is entered into between a franchisor and a corporate franchisee, such as a limited company, it is usual for the franchisor to require at least one individual, such as a company director or key shareholder, to provide a personal guarantee that they will satisfy the obligations and liabilities of the franchisee, in the event that the franchisee fails to meet those obligations and liabilities under the franchise agreement.

Glossary of Insolvency Terms

With the impact of COVID-19, there will inevitably be a rise in businesses or individuals engaged in insolvency procedures. We set out below some of the most commonly used insolvency terms.

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