An indemnity is a promise to pay A's losses if a trigger event occurs (read more in my Pulse post). But how do they pass risk on construction projects? If someone else fails to spot your defective work, does it reduce the amount of your indemnity? No. In Greenwich Millennium ...
Does this sound like you? When we set up our consultancy practice, like many professionals we cobbled (cut + paste) together an appointment from documents we’d been provided by our professional body and or obtained from other consultants. We took an 'that seems to look right' or 'it covers most bases' ...
When a court or tribunal interprets your carefully crafted (ahem) contract, it doesn't ask your opinion. It reviews the written terms to analyse "what a reasonable person having all the [parties' then] background knowledge... would have understood... the language in the contract to mean". As you are masters of your contractual ...
Contracts win prizes, although not in this case... It is common ground that the Deed of Variation in this case would win no drafting prizes for precision or clarity. It included errors ... which are acknowledged by both sides, and it also struggled to convey the essential agreement reached between the ...
It is trite law that in order to have a building contract you usually need agreement as to parties, workscope, price and time It is reasonably easy (IMHO) to find correspondence, acts or calls which create the offer and acceptance, consideration and intention needed to create a contract. Even when those requirements ...
A US$60m project for a luxury Caribbean resort came to a sorry end for many hundreds of disgruntled customers. Even if your project does not involve cabanas, windswept beaches or multi-million pound deals, you can learn from the lessons of Harlequin and its contractor. Setting the Scene The 'startling features' of the ...
If you believe that a contract that sets out how much you'll get paid is good enough, you are kidding yourself. Money might be - for suppliers, contractors and consultants - your highest priority. But your client wants to know what she is getting for her cold hard cash. Legally Binding The ...
I have been re-reading Letters of Intent: Avoiding the Old Mistakes, Again.* It is full of great quotes about letters of intent including this finding: there is a great deal of conflicting guidance on content with very little guidance ... very few lessons had been learned from the high profile cases When ...