The Efficacy of Insolvency-Related Termination Clauses in Commercial Agreements

2020 ◽  
Author(s):  
Dr Kubi Udofia
Keyword(s):  
Commercial Agreements

5. Intention to Create Legal Relations

2017 ◽  
Author(s):  
M P Furmston
Keyword(s):  
Husband And Wife ◽  
Commercial Agreements

This chapter, which examines the requirements of intention to create legal relations, discusses its application to domestic agreements such as agreements between husband and wife and commercial agreements.

10 Denial of Legally Binding Effect

2016 ◽  
Author(s):  
Furmston Michael ◽  
Tolhurst G J ◽  
Mik Eliza
Keyword(s):  
Final Section ◽  
Parent Company ◽  
Binding Effect ◽  
Large Company ◽  
The Third ◽  
Commercial Agreements

An agreement is legally enforceable only if it is supported by valuable consideration and there is an intention to contract. This chapter focuses on this requirement of an intention to contract which must exist in all the parties. It discusses the use of presumptions; the presumptions and threshold intention; consideration and intention to contract; family and social agreements; and commercial agreements. The final section deals with letters of comfort. When a bank is approached for finance by a subsidiary of a large company, any initial offer of finance usually will be subject to security being provided by the parent company. Where the parent company is not prepared to provide security, it may provide the bank with a letter of comfort. These letters take three principal forms. The first type acknowledges the subsidiary's loan application and states that it is the policy of the parent company to ensure that its subsidiaries meet their loan obligations. The second type acknowledges the subsidiary's loan application and states that it intends to maintain its shareholding in the subsidiary. The third type simply acknowledges the loan application.

scholarly journals Data protection by design: Building the foundations of trustworthy data sharing

Data & Policy ◽  
2020 ◽  
Vol 2 ◽  
Author(s):  
Sophie Stalla-Bourdillon ◽  
Gefion Thuermer ◽  
Johanna Walker ◽  
Laura Carmichael ◽  
Elena Simperl
Keyword(s):  
Organizational Structure ◽  
Data Sharing ◽  
Data Protection ◽  
Open Data ◽  
Design Approach ◽  
Core Data ◽  
Commercial Agreements

Abstract Data trusts have been conceived as a mechanism to enable the sharing of data across entities where other formats, such as open data or commercial agreements, are not appropriate, and make data sharing both easier and more scalable. By our definition, a data trust is a legal, technical, and organizational structure for enabling the sharing of data for a variety of purposes. The concept of the “data trust” requires further disambiguation from other facilitating structures such as data collaboratives. Irrespective of the terminology used, attempting to create trust in order to facilitate data sharing, and create benefit to individuals, groups of individuals, or society at large, requires at a minimum a process-based mechanism, that is, a workflow that should have a trustworthiness-by-design approach at its core. Data protection by design should be a key component of such an approach.

Narrativising contract law

Legal Studies ◽  
2009 ◽  
Vol 29 (1) ◽  
pp. 19-46 ◽  
Author(s):  
Catherine Mitchell
Keyword(s):  
Contract Law ◽  
Business Relationship ◽  
Legal Scholarship ◽  
Legal Norms ◽  
Relational Norms ◽  
The Law ◽  
Narrative Scholarship ◽  
Source Of Information ◽  
Commercial Disputes ◽  
Commercial Agreements

Socio-legal scholarship in contract maintains that the classical law is ineffective in regulating commercial agreements, and that the law should be more attentive to the role played by relational norms of cooperation and implicit understandings in business dealings. This paper explores the extent to which the parties' own narratives about their business relationship, as presented to a judge through testimony, can be both a source of information to judges about how business is conducted and a corrective to the classical contract law mindset, which favours the operation of individualist over cooperative norms in the resolution of commercial disputes. The paper examines a body of ‘law and narrative’ scholarship which underlines narrative's power to subvert traditional legal norms. It also considers some of the difficulties with relying on party narratives as evidence of the implicit dimensions of commercial agreements, but concludes that such narratives may have a role to play in the development of a more relationally constituted contract law and are thus worthy of closer scrutiny.

scholarly journals Penalty Clauses and the CISG

2012 ◽  
Vol 30 (2) ◽  
Author(s):  
Jack Graves
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Traditional View ◽  
Advisory Council ◽  
Liquidated Damages ◽  
The Common ◽  
Penalty Clauses ◽  
International Sale Of Goods ◽  
Commercial Agreements

Commercial agreements often provide for “fixed sums” payable upon a specified breach. Such agreements are generally enforced in civil law jurisdictions. In contrast, the common law distinguishes between “liquidated damages” and “penalty” clauses, enforcing the former, while invalidating the latter as a penalty. The UN Convention on Contracts for the International Sale of Goods (CISG) does not directly address the payment of “fixed sums” as damages, and the validity of “penalty” clauses has, traditionally, been relegated to otherwise applicable domestic national law under CISG Article 4. This traditional orthodoxy has recently been challenged—suggesting that the fate of a penalty clause should be determined by reference to the general principles of the CISG and that such a clause should generally be enforced. The validity of fixed sums, as penalties, is currently under consideration by the CISG Advisory Council, so further exploration of the issue would seem particularly timely. This article examines the basis for the traditional view, along with two distinct challenges to that view—ultimately concluding that these challenges fail to support their respective solutions to the issue and suggesting the continuing vitality of the traditional view.

Sign in / Sign up

Export Citation Format

Share Document