Category Archives: Practical business explanations

Debenture

Debenture – a formal debt agreement entered into by a company which can contain a number of different elements securing the debt (see below). In addition to being a form of borrowing it can also be a method of an external investor taking an interest in a company in a potentially more secure way than […]

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Consideration

Consideration – this term describes one of the elements necessary for there to be a legally binding contract. It is somewhat abstract but in basic terms it means that each party must provide something valuable to the other “in money or money’s worth” for there to be a contractual relationship between them. Note also that […]

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Consequential loss

Consequential loss – It is one thing being in a strong position to demonstrate a breach of contract in litigation terms and a strong legal case, but difficult arguments often relate to the level of recoverable damages and consequential loss is a more complex legal concept than may appear to be the case. In simple […]

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Confidentiality Agreement

Confidentiality agreement – these agreements are becoming increasingly important and commonly used for a wide range of situations. They are particularly relevant where one party is a small business or individual who has a valuable IP right and is concerned that if details are disclosed the other party may seek to replicate the idea. Care […]

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Breach of contract

Breach of contract – this is self explanatory as a starting point but there are many important things to consider if you believe that a counterparty has breached a contract with you or you are in breach of contract. Some of the major considerations are :- Different types of contract clauses have different consequences on […]

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Arbitration

Arbitration – describes the process of alternative dispute resolution meaning a dispute is resolved without using the court system. Many contracts include arbitration clauses, particularly construction contracts. What you need to know, in brief :- Possible advantages of arbitration are that it is generally much quicker than court proceedings. It may also (although this varies) […]

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Agents – agency law

Agent – agency relationships are extremely common now and the main things, in commercial and legal terms you need to be aware of are :- The boundaries of authority – make it clear both to the agent and anyone that the agent may deal with on your behalf whenever possible as to the agent’s authority […]

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