Misrepresentation and the 11 facts you need to know
Misrepresentation and the 11 facts you need to know When someone is induced to enter into a contract because of a false statement made to them by the other party to the contract and they subsequently suffer a loss because of their reliance on that false statement, they are a victim of misrepresentation. A legal claim can be made requesting that the court award damages or rescission of the contract. The best way to avoid falling into the misrepresentation
Security for costs relating to Claimant’s based outside of England and Wales
Security for costs relating to Claimant’s based outside of England and Wales There is a general principle in litigation that the losing party will pay the successful party’s legal costs. Where a defendant has concerns that the other side may not pay their costs, they can ask the court to make a security for costs order. This will require the claimant to pay money into court so that it can be paid to the defendant if they are awarded
Shareholder rights and remedies: How can I resolve a shareholder dispute?
Shareholder remedies: How can I resolve a shareholder dispute? When a shareholder’s rights have not been observed by a company and/or its directors, it is possible for them to ask the court to impose a fair remedy. There are three bases on which an application can be made to the court for shareholder remedies by a shareholder who seeks justice, namely an unfair prejudice petition, a derivative claim and a petition for winding-up on just and equitable grounds. Lincoln & Rowe
Breach of contract explained and the 7 questions you need to ask
Breach of contract explained and the 7 questions you need to ask Contracts form the basis of legal agreements in all areas of life. They do not have to be in writing, although most are, particularly when dealing with business matters. Every valid contract must have four key elements: offer, acceptance, consideration (ie. something of value such as payment) and intention. What is breach of contract? Once two or more parties have entered into a valid contract, they are
Director Disqualification: what do I need to know?
Director Disqualification: what do I need to know? When a company director fails to carry out their legal responsibilities, they run the risk of being disqualified. This can be a lengthy procedure resulting in a period of disqualification during which it is not permitted to form, promote or manage a company. The main law governing disqualification is contained in the Company Directors Disqualification Act 1986. Grounds for disqualification as a company director Director disqualification usually arises from insolvency and misconduct, but
Received a winding-up petition? 9 things you need to consider
Received a winding up petition? 9 things you need to consider A winding up petition is a legal document that can be served by a company’s creditors when they are owed money by the company. If the debt amounts to £750 or more, then a creditor has the right to go to court and ask for a winding up petition to be issued, although courts view this remedy as something that should be reserved for when a company is
What Are My Rights in Shareholder Disputes?
What Are My Rights in Shareholder Disputes? It is often the case that disputes arise between shareholders and company directors. Those involved may have different opinions in respect of the direction of the company, be concerned about the level or risk or debt being taken on or believe that decisions are being made that are not in the company’s best interests. In many cases, the shareholders are also directors of the company. The area of shareholder rights is a
What are the different types of misrepresentation?
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 does not need to be in a formal written document, it can be information given in a conversation, meeting or sales pitch. If misrepresentation can be