Commercial contracts: It’s a mistake – but what then?

Commercial contracts: It’s a mistake – but what then?

Where a mistake has been made during the course of formalising commercial contractual arrangements, when will the court be prepared to rectify it and on what basis? Rectification takes place when the court amends the terms of a legal document which does not accurately...
New FCA Guidance on Cryptoassets

New FCA Guidance on Cryptoassets

Cryptoassets such as Bitcoin and Litecoin have been on the radar of the Financial Conduct Authority (FCA) for some time. The FCA has urged consumers to be cautious and has recently published useful guidance on cryptoassets and regulatory issues. Cryptoassets (also...
Economic duress and bad faith

Economic duress and bad faith

Businesses may avoid a contract on grounds of economic duress, but there has been legal uncertainty as to the circumstances in which a contract will be held to have resulted from a threat of a lawful act or omission.  So in what circumstances can it be invoked?   The...
No contract? Proceed with caution

No contract? Proceed with caution

Most businesses and entrepreneurs appreciate the importance of having a contract drawn up in writing. However, the commercial reality is there are cases where formalising the terms does not happen before one of the parties carries out their part of the bargain. But...
Bribery Act Review: Encouraging news for businesses of all sizes

Bribery Act Review: Encouraging news for businesses of all sizes

The Bribery Act 2010 is well bedded down in English law, but is it causing any unanticipated problems for the business community?  A review of the Act1, conducted by a House of Lords select committee and published in March this year, has concluded that the Government...
Brexit: Frustration in a commercial contract

Brexit: Frustration in a commercial contract

Can Brexit frustrate a commercial contract? Up until recently there had been no reported cases in this area, however the High Court has now given more clarity on the potential effect of Brexit in a case that considered the principle of frustration of contract in the...