Contract warranties and breach of warranty


Warranties are common in commercial agreements, especially where businesses are sold. They can create delay, cost and friction in such situations, so a creative, clear and proportionate approach is advisable. Contract warranties – what, why, when? In essence, a warranty is a promise given by one party to another that a given statement or set READ MORE

Why do some companies have different classes of shares ?


Many Companies have different classes of shares. There are a number of different reasons why the shareholders of a company would chose to structure the company in this way. One of the most common reasons for having different classes of shares or preference shares is when a party wishes to invest in the company. By READ MORE

Negligent Misstatement


What constitutes a negligent misstatement? A negligent misstatement is a claim which is brought by one party against another at common law in tort. This claim arises if the party against whom the claim is brought made a statement which was considered to be negligent (Defendant) and the party bringing the claim (Claimant) relied on READ MORE

Limitation of liability in contracts


Limitation of liability in contracts It is common, with contracts, particularly sales of goods or services, to encounter a clause seeking to limit the liability of the seller or service provider. The principle is that a party to a contract will seek to limit financial liabilities to a fixed sum or defined loss. The extent READ MORE

What is Privity of Contract ?


The doctrine of Privity of Contract is applied in contract law and the general rule it creates is that only the actual parties to a contract have rights and obligations under it and thus the ability to bring a claim for a breach of contract under the terms and conditions of the contract. This doctrine READ MORE