The following Commercial Q&A provides comprehensive and up to date legal information covering:
For the purpose of this Q&A we have assumed that the contract is a business-to-consumer contract.
This Q&A considers cancellation rights (ie cooling off periods) under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (CCR 2013), SI 2013/3134 only.
CCR 2013, SI 2013/3134 set out consumer cancellation rights in respect of doorstep and distance contracts, among other things. CCR 2013, SI 2013/3134 do not specifically address how cancellation rights are affected or apply in the event a contract is transferred between consumers. However, the European Commission's guidance on Directive 2011/83/EU, Consumer Rights Directive (implemented into UK law for the most part by CCR 2013, SI 2013/3134) provides, at paragraph 2.7 (Transfer of existing contracts between consumers):
'Article 3(5) states that “This Directive shall not affect national general contract law such as the rules on the validity, formation or effect of a contract, in so far as general contract lawaspects are not regulated in this Directive.”Accordingly, if na
'Article 3(5) states that “This Directive shall not affect national general contract law such as the rules on the validity, formation or effect of a contract, in so far as general contract law
aspects are not regulated in this Directive.”
Accordingly, if na
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When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
Fraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the deceived for the Fraud Act 2006
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
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