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Insurance

the cover provided by an insurer to protect the insured from certain risks

Interim payment

money that a Court instructs the Defendant to pay (or they agree to pay) whilst waiting for a settlement or for the Court's final decision

Interim Hearing

a Court hearing that does not finally dispose of the claim

Individual Voluntary Arrangement (IVA)

a voluntary arrangement for an individual is a procedure whereby the person comes to an arrangement with his creditors as to how their debts will be discharged. Such a scheme requires the approval of the court and is under the control of a supervisor

Insolvent

the state of not being able to pay one's debts as they fall due or having an excess of liabilities over assets

Insolvent Liquidation

a company goes into insolvent liquidation if it goes into liquidation at a time when assets are insufficient for the payment of its debts and other liabilities and the expenses of liquidation

Insolvency Practitioner (IP)

a person authorised by an approved body to act as an IP. The only people who may act as office holder in an insolvency proceeding

Interim Order

an individual who intends to propose a voluntary arrangement to his creditors may apply to the court for an interim order which, if granted, precludes bankruptcy and other legal proceedings whilst the order is in force

Inheritance Tax

tax payable on the transfer of assets either during an individual's lifetime or on his or her death

Intestacy

the situation that arises when someone dies without making a will

Independent expert determination

an independent determination of the rent to be paid on review. Independent expert determination differs from arbitration in that the independent expert is not confined to the evidence presented by the parties

Indexation

the regular adjustment of a rent in accordance with a specified index, eg the Retail Price Index

Institutional lease

the typical institutional lease has been developed in England since the 1960s to meet the requirements of the pension funds and insurance companies investing in property. Generally tenants pay for all repairs and insurance to give the landlord a clear net income and minimise his management costs

Interim rent

a landlord may apply to the court to fix an interim rent when he has given notice of termination of a tenancy or where the tenant has served notice of a request for a new tenancy on the landlord

Injunction

an order issued by the court preventing or requiring action, often in an emergency

Intangible property

items that represent value but are not actual, physical objects. Examples include stocks in a company, bonds, bank notes, trade secrets, patents, copyrights and trademarks

Intellectual property

property that derives from the work of the mind or intellect. May receive legal protection through such mechanisms as copyright, patents and trade marks

Infringement

the unauthorised copying or use of a protected form of intellectual property

Injunctive relief

the granting of an injunction

Intellectual property rights (IPR)

intangible property rights resulting from intellectual effort, including patents, designs, copyright

Invention

the creation of a new technical idea and of the physical means to accomplish or embody it. To be granted a patent, an invention must be novel, have utility and make a distinct and recognised contribution to the advancement of science

Indictable Offence

a criminal offence that can only be tried by the Crown Court. The different types of offence are classified 1, 2, 3 or 4. Murder is a class 1 offence

Indictment

a written statement of the charges against a defendant sent for trial to the Crown Court, and signed by an officer of the Court

Inheritance Act claim

A claim by someone for better provision under the will of someone from whom they were receiving financial support

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