The following Dispute Resolution practice note provides comprehensive and up to date legal information covering:
The rationale for the need for there to be a proper law of a contract was explained in the dictum of Lord Diplock in when he said this:
‘My Lords, contracts are incapable of existing in a legal vacuum. They are mere pieces of paper devoid of all legal effect unless they were made by reference to some system of private law which defines the obligations assumed by the parties to the contract by their use of particular forms of words and prescribes the remedies enforceable in a court of justice for failure to perform any of those obligations …’
When determining the applicable law for contract claims there are a number of different regimes in place and it is important to understand which one the English court will apply in determining the applicable law for the dispute. This will depend on the date of the contracts as well as other factors. The relevant regimes are:
Rome I—this is applied by the courts of EU Member States when considering contracts concluded on or after 17 December 2009, see: Applicable law (EU regime)—overview
Rome Convention—this is applied by the courts of the contracting states of the Convention for contracts entered into after 1 April 1991 where Rome I does not apply,
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
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