Letters of credit – standard & straightforward ? Not necessarily


What is a letter of credit? A letter of credit is perhaps the most common payment method with regard to trade of an international nature. A letter of credit is a written guarantee from a bank or other appropriate financial institution confirming that the buyer in the transaction has the required funds and will make READ MORE

Side letters – what are they and when are they suitable ?


What is a side letter? A side letter is a document generally used as supplementary to a contract. The problem with a side letter is that its validity as a binding document can easily be questioned even where the parties’ intention at the time of execution is for it to be legally binding and this READ MORE

Mediation in corporate transactions – genius or barking mad ?


As a commercial solicitor with some 30 years experience who is now also an accredited mediator, I recognise that, on first consideration, the suggestion that mediation could and perhaps should be used on corporate transactions may seem a little off the wall, when mediation is generally used in litigious situations and whilst increasingly popular in READ MORE

Commission based agreements


A commission agreement also sometime referred to as an affiliate, introducer or referral agreement, is a type of agreement whereby an individual or company agrees to make a payment to another in return for their goods or services being referred on by that intermediary to them. This type of agreement is different to an agency READ MORE

Company Acquisitions – Top 10 Legal Tips


Regardless of the size of your business, whether you are an SME or a PLC, there is always room to grow and develop. Company acquisitions are an efficient way of expanding your business but if not done correctly with both legal and financial due diligence, the acquisition could go horribly wrong. The following our top READ MORE

Condition precedent – what, why, when ?


Definition A condition that must be fulfilled before a second event can take place – “Precedent” means that it must come first or before some other act before a Contract can be fulfilled and both parties are required to fully comply with their obligations. Condition precedents usually apply in business contracts but the legal principle READ MORE

Dividends – knowing the law will pay dividends


Dividends are a vital aspect of company law and an essential part of many investments in small and in some cases very big companies. Payment of dividends is the main mechanism whereby shareholders get an annual return on their investment. However, there are many complexities with dividends, both from a  legal and accounting perspective. The READ MORE

Basic legal tips for shareholders


Do shareholders have to meet in order to make a decision ? Subject to certain exceptions, the answer is no, as long as the correct procedure under the Companies Act 2006 is followed. The exceptions to this rule include some major decisions such as removing a director and such a decision has to be made READ MORE

Online businesses – what laws apply to virtual business ?


What law applies to virtual businesses ? Many laws that apply to traditional “bricks and mortar” businesses also apply to virtual businesses.  Virtual businesses are still expected to comply with basic contract law and where there is any divergence statutory law will step in and invalidate any unfair contractual terms. However, virtual businesses are subject READ MORE

The Distance Selling Regulations


Who do the Distance Selling Regulations (Consumer Protection ((Distance Selling)) Regulations) apply to? The Regulations apply only to transactions between consumers and businesses. Any transactions between businesses will not fall under the regulations. How do the Uk’s Distance Selling Regulations Affect my business? The Distance Selling Regulations which came into force in the year 2000 READ MORE