The following Commercial Q&A Produced in partnership with XXIV Old Buildings provides comprehensive and up to date legal information covering:
This Q&A addresses a scenario where only the schedule is novated and the rest of the original agreement is not novated (and remains an agreement between the original parties).
The essence of a novation is that it is a fresh agreement between the parties to the original agreement (A and B) and a third party (C) that C will replace one of the original parties (eg B) so that the agreement is now between A and C, with the result that B is completely released from its obligations under the original contract. Novation requires the agreement of A, B and C
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This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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