The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the coronavirus (COVID-19) outbreak. We are reviewing our content on the basis of information available and will keep it under regular review. For information on key developments and related practical guidance on the implications for lawyers, see: Coronavirus (COVID-19) toolkit and Practice Note: Coronavirus (COVID-19)—implications for derivatives transactions.
The International Swaps and Derivatives Association (ISDA) documentation framework involves layers of documentation (often referred to as the ISDA documentation architecture). The key layers of the documentation for a trade under the ISDA documentation framework are:
schedule to the master agreement
credit support documents, and
The ISDA master agreement is a pre-printed umbrella document which includes the boilerplate provisions. The schedule supplements and amends the master agreement, as required by the parties. It allows the provisions of the master agreement to be tailored to the particular needs of the parties, by inserting amendments to the provisions of the master agreement or including additional or alternative provisions. The schedule is the part of the ISDA master agreement that is negotiated by the parties.
The majority of protection comes from the master agreement itself. If transactions are entered into before the schedule is negotiated and agreed, it should be specified in the confirmation that a deemed
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What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
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