The following Commercial Q&A provides comprehensive and up to date legal information covering:
An existing contract or deed may be varied in writing, provided that the variation satisfies the usual requirements for the creation of a binding agreement—ie offer, acceptance, certainty, consideration and contractual intention of the parties (although if a variation is documented as a deed, there is no need for the parties to provide consideration). If the variation is executed as a deed, further formalities are required (see Practice Note: Deeds). For more guidance, see also:
Forming enforceable contracts—overview
Practice Note: Forming enforceable contracts—certainty
Note that, at law, a ‘new contract or deed’ will not have been created by a variation
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What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR
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