Beware! Contract Races – Could you be in one?

The SRA Code of Conduct 2011 forms part of the Solicitors Regulation Authority Handbook. The Code is to be adhered to by all lawyers – both in-house and in private practice. Sometimes it’s good to have a timely reminder of aspects of the Code which you don’t necessarily come across that often. Of particular interest to investors and developers is the duty that a seller’s legal team must inform potential buyers of a seller’s “intention to deal” with more than one party. Understanding this duty may help when structuring the transaction. Continue reading