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Interpretation of ambiguous commercial contracts: will common sense prevail?
- Borden Ladner Gervais LLP
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- Australia, United Kingdom
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- January 19 2012
In England, yes; in Australia, apparently not
Business common sense and the interpretation of commercial contracts
- McCarthy Tétrault LLP
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- Canada, United Kingdom
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- November 11 2011
What role does business common sense play in the interpretation of commercial contracts?
Legal and market developments in Russia - summer autumn 2012
- Clifford Chance LLP
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- Russia
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- November 7 2012
Russia Update: Legal and market developments in Russia Summer Autumn Issue 2012 Macro Updates
Common sense counts when construing commercial contracts
- RPC
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- United Kingdom
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- November 17 2011
In Rainy Sky S.A and six others v Kookmin Bank 2011 UKSC 50, the Supreme Court provided useful guidance on the role of business common sense in construing a clause in a commercial contract, particularly in circumstances where there are competing plausible constructions, neither of which is clearly preferable on the language used alone
Wuhan Guoyu Logistics Group Co Ltd & Others -v- Emporiki Bank of Greece SA
- Fenwick Elliott Solicitors
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- United Kingdom
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- January 31 2013
The recent Court of Appeal case of Wuhan Guoyu Logistics Group Co Ltd & Others v Emporiki Bank of Greece SA reversed the first instance decision of
Liability of banks for refusing payment under letters of credit
- Morton Fraser
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- United Kingdom
- -
- September 20 2011
In Fortis Bank SANV v Indian Overseas Bank, the court considered the liability of a bank for failing to honour five letters of credit issued by it
Refund guarantee doesn’t extend to the insolvency of the builder
- Morton Fraser
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- United Kingdom
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- February 16 2011
In our Spring 2010 e-news we reported on the case of Kookmin Bank which dealt with the interpretation of a refund guarantee between Kookmin Bank (the "Bank") and the customer of an insolvent shipyard
Time bars and indemnities - commercial sense and certainty
- Kennedys
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- United Kingdom
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- December 1 2011
We highlight two recent English legal decisions involving demurrage claims and time bars, and a Uniform Customs and Practice for Documentary Credits (UCP 600) case involving indemnities under a credit facility and the obligations of a confirming bank
Court of Appeal holds that a payment guarantee issued in respect of an instalment due under a shipbuilding contract was an “on-demand” bond
- Reed Smith LLP
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- United Kingdom
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- December 12 2012
Reed Smith (Charlie Weller) has represented the successful Appellant in Wuhan Guoyu Logistics Group Co Ltd v Emporiki Bank of Greece SA 2012 EWCA Civ 1629
Obligation to pay on demand means just that
- Wragge & Co LLP
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- United Kingdom
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- November 24 2009
On demand guarantees entitle the beneficiary to payment regardless of a dispute in the underlying contractual relationship
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