Contract

High Court applies SAAMCO principle to find no assumption of responsibility for losses flowing from market forces

In a recent decision, the High Court found that an auditor was not liable for break costs of some £32.7 million incurred as a result of its negligent advice in relation to the accounting treatment of interest rate swaps, as … Continue reading

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Filed under Contract, Remedies, Tort

Cross-border litigation: international perspectives

We are pleased to release the third issue of our periodic publication “Cross-Border Litigation”, designed to highlight legal and practical issues specific to litigation with an international aspect. Tapping into the expertise of the firm’s leading commercial litigators across the … Continue reading

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Filed under Contract, Funding, Jurisdiction

Agreement expressed to be subject to board approval not binding until approval given

In a recent decision, the Commercial Court has considered whether an arbitration claim was settled in without prejudice correspondence between the parties’ solicitors. It concluded that no binding settlement was reached, as the relevant offer was made subject to the … Continue reading

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Article published – If the cap fits

In a decision late last year, the Court of Appeal considered the interpretation of a provision which purported to cap the liability of a provider of IT systems for defaults occurring at different stages of the contract. In contrast to … Continue reading

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Filed under Announcements, Contract

Supreme Court breathes new life into “no oral modification” clauses

The Supreme Court has overturned a decision that contractual clauses requiring amendments to be in writing would not preclude amendments subsequently being effected orally: Rock Advertising Ltd v MBB Business Exchange Centre Ltd [2018] UKSC 24. This is an important judgment which … Continue reading

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Court of Appeal decision suggests courts will be slow to find contract terms void for uncertainty

The Court of Appeal has held that a provision in a franchise contract that allowed for the clawback of commission in certain circumstances was sufficiently certain to be enforceable even though it did not specify exactly how the amount of … Continue reading

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Dispute resolution clauses: Putting yourself in the best position

All too often, dispute resolution clauses may be treated as part of the boilerplate: the usual wording thrown in, with perhaps little thought for the particular circumstances. But the question of how a dispute will be resolved – whether by … Continue reading

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Filed under ADR, Choice of law, Contract, Jurisdiction

High Court finds there is no power to stay in favour of prior proceedings in non-EU court where there is an English non-exclusive jurisdiction agreement

The High Court has held that where there was a non-exclusive jurisdiction clause in favour of an EU member state (England), and proceedings were commenced first in a non-member state (the Isle of Man), the English court had no power … Continue reading

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TCC decision illustrates need to consider impact of contractual amendments on liquidated damages clauses

In a recent decision, the Technology and Construction Court (TCC) held that a contractor under a sub-contract (which incorporated standard LOGIC conditions) could not claim liquidated damages when a contractual milestone was not met, due to an amendment which had … Continue reading

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Drafting contracts: Key lessons from 2017

This annual contract law update from our corporate team considers a number of interesting contract law cases which have highlighted key points for those involved in drafting or managing contracts. The cases that have been chosen deal with the formation of … Continue reading

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