Personal Guarantees: What You Need to Know Before You Sign One
It is becoming increasingly common for lenders to look for ways to ensure payment when advancing funds. One of the most common ways they do this is by asking you—as an individual—to give a personal guarantee. What is a Personal Guarantee? A personal guarantee is a legal commitment made by an individual to personally […]
Understanding Personal Guarantees in Scotland: Key Legal Considerations
It is becoming increasingly common for lenders to look for ways to ensure payment when advancing funds. This is commonly done by way of personal guarantee. What is a personal guarantee? A personal guarantee is an individual’s legal promise to repay credit issued to a business for which they serve as an executive or […]
Navigating Commercial Entanglements in Friendships: Legal Remedies and Solutions
When friendships become commercially entangled and contracts are breached, rest assured, not all hope is lost! Our recent case highlights the complexities that can arise when personal relationships intersect with business interests. Case Overview: Friendship to Business Partnership We were recently instructed in a case whereby a friendship developed into a business relationship, and substantial […]
Understanding the Compulsory Pre-Action Protocol (“CPAP”) for Personal Injury Claims
“Personal Injury” is defined as an injury or illness that has been caused (or made worse) by someone else’s negligence. An injury sustained in these circumstances may attract a claim for financial compensation from those responsible (usually via an insurance company). The most common types of personal injury are: Road traffic accidents Accidents at work […]
Data Protection: Home Security Systems and Legal Compliance
Data Protection in Scotland is governed by the Data Protection Act 2018 (DPA). DPA is the UK’s implementation of the General Data Protection Regulation (GDPR). Article 5 of the GDPR sets out seven key principles: Lawfulness, fairness and transparency Purpose limitation Data minimisation Accuracy Storage limitation Integrity and confidentiality (security) Accountability Article 6 of the […]
Data Protection: Home Security Systems and Legal Compliance
Data Protection in Scotland is governed by the Data Protection Act 2018 (DPA). DPA is the UK’s implementation of the General Data Protection Regulation (GDPR). Article 5 of the GDPR sets out seven key principles: Lawfulness, fairness and transparency Purpose limitation Data minimisation Accuracy Storage limitation Integrity and confidentiality (security) Accountability Article 6 of the […]
New Bill Establishes 6 Month Pause on Debt Recovery Action for Mental Health Sufferers
The Bankruptcy and Diligence (Scotland) Bill, passed on 6th June 2024, is an Act of the Scottish Parliament which has significantly modified the Bankruptcy (Scotland) Act 2016 to establish a mental health Moratorium. This Bill addresses debt recovery action by creditors against individuals who have a mental health illness. Debt recovery is the process of […]