Latest news and views tagged unprofitable contract
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This case surrounded the so-called battle of the forms. That is where each side refers to their own terms and conditions applying in their documents such as quotations, orders, order acknowledgements,...
0.5% over base rate of interest is too low so statutory rate applies – Yuanda v WW Gear, High Court
The parties entered into a construction contract which was based on the industry-standard JCT contract, but with some terms varied. Instead of interest on late payments applying at 5% above base rate as...
Confirmation that change in economic circumstances does not entitle party to treat contract as ‘frustrated’ – Gold v BDW Trading, High Court
The parties entered into a contract for BDW to build a new property development on Gold’s land. Following the contract, the projected selling prices fell sharply because of the crash in property prices....
The Sky’s the limit – an IT case affecting any type of goods or services contract
After 7 years in the legal arena, including 110 days in the courtroom, Sky has finally proved fraud against EDS.
On 26 January 2010, the Technology and Construction Court in London ruled that EDS had...
Economic downturn not a justification reason to invoke force majeure provisions – Tandrin Aviation v Aero Toy Store , High Court
It is official: the economic downturn is not a justification under most force majeure clauses for getting out of an unprofitable contract. That was the ruling of the High Court in this case. Here, D had...