The 4 ways to legally terminate a contract: breach of contract, performance and agreement Disruption is common in the business world, with unforeseen events or difficulties meaning that contracts sometimes cease to be beneficial or even possible. We take a look at various ways in which a contract can possibly be legally terminated.
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Strategies for preventing shareholder disputes Shareholder disputes can be disruptive to a company, diverting management attention from the business and potentially damaging its reputation. Putting the right framework in place to avoid disputes will not only help prevent shareholders from being disgruntled but can also make a company a more attractive proposition should
What are the different types of misrepresentation? When entering into a business contract, a variety of statements are usually made setting out the details and background of the deal. If someone enters into a contract in reliance on a statement that later turns out to be untrue, this is misrepresentation. The false statement
HMRC preferential status and the impact on personal guarantees The government’s reinstatement of HM Revenue & Customs (HMRC) to the position of a secondary preferential creditor in insolvent liquidations comes at a time when many businesses are being squeezed and cash flow is poor. Lenders may be more inclined to seek personal guarantees
Wrongful or insolvent trading: Can directors be personally liable? Wrongful trading occurs when company directors continue to trade past the point when they knew or should have known that there was no reasonable prospect of avoiding insolvent liquidation and in addition they did not attempt to minimise potential loss to the company’s creditors
The FCA and business insurance: Are Covid-19 interruptions covered? Following disputes and disagreement over whether business insurance companies were required to pay out on business interruption policies following the Covid-19 outbreak, the Supreme Court has made a ruling which will help many businesses make successful insurance claims. On 15 January 2021, the Supreme
Minority shareholder disputes: What are your rights? While minority shareholders have limited powers under the terms of the Companies Act 2006, a dispute can cause substantial disruption to a company if it is not dealt with promptly. Disagreements can arise when shareholders object to a certain course of action, when they believe that
The Legal Industry in 2021: Advice, guidance and representation The difficulties of 2020 forced the legal industry to adapt quickly to provide advice, guidance and representation to clients during lockdowns and commercial turmoil. We understand more about the changes in the legal industry in 2021. Lawyers have on the whole moved rapidly to
A guide to remedies for breach of contract When one party to a contract fails to fulfil their obligations under it, it's classed as a breach of contract. Where the other party suffers a loss because of this, they are entitled to ask for a remedy. Before taking action against breach of contract,
Employment law: What changes should we expect in 2021 following the pandemic? Employment law changes following the pandemic and changes expected in 2021 As the New Year rolls around, the government’s Coronavirus Job Retention Scheme (CJRS) remains in force, with the possibility of the Job Support Scheme to follow on. Combined with other
What are the duties of a company director and what happens if they are breached? Company directors have a number of duties imposed on them under the Companies Act 2006 as well as under common and other laws. Failure to carry out directors' duties can result in substantial penalties, including personal liability for
Covid-19 debt recovery: How can I make a claim during the pandemic? While the government’s temporary rules seek to protect businesses during troubled times, curbing Covid-19 debt recovery measures is increasing the pressure on many. We take a look at the new legislation and at what options are available for those who are
Partnership disputes: How can I avoid a litigation case arising from a bad partnership agreement? A well-drafted agreement forms the basis of a strong partnership. By clearly setting out the rights and responsibilities of each partner, partnership disputes can often be avoided. When a new partnership is set up, sometimes the partnership agreement
Launching a new business in the UK: What do I need to know before I get started? Notwithstanding the current difficult climate caused by covid 19, new businesses continue to be formed. Creating a new enterprise is exciting but the list of considerations before launch day is long. At Lincoln & Rowe we
Lockdown tensions: Settling ongoing neighbour disputes during the pandemic With many of us spending substantially more time at home, what were seemingly minor problems with neighbours might start becoming more of an issue than they were before. Neighbour disputes can arise from behaviour that we have previously ignored or not had time to