Legal Definitions by Ford Banks Irwin Solicitors - The Property Lawyers in Manchester
Please note: Not to be used or relied upon without legal advice. These notes are for illustrative purposes ONLY
Waylease
A term used by Property Law Solicitors and Conveyancers to describe a right of way through or over a piece of Land, often for a particular purpose such a pipeline. See also Wayleave agreements.
Will
A Legal Document prepared by Probate Law Solicitors and Lawyers which sets out the wishes of the client on what should happen after his death. The Will should appoint Executors and list all of the gifts the client would like to make. It is also a good time to assess the Inheritance Tax position.
Winding-up (liquidation)
A procedure used by Company Law Solicitors and Lawyers to dissolve a Company. All the Company assets are sold and proceeds divided amongst the shareholders.
Without Prejudice
These are words written on documents which the writer does not want to appear in evidence in any Court Proceedings. They should only be used on documents that are intended for negotiations or compromise. Claimant / Defendant Solicitors and Lawyers will frequently negotiate over the terms of a settlement with letters marked Without Prejudice. Many letters are marked Without Prejudice save as to Costs if the writer wants to be able to rely on them in Court Proceedings over the issue of Costs.