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
What Are Directors’ Duties When a Company Is Insolvent?
What Are Directors’ Duties When a Company Is Insolvent? If a company becomes insolvent, it is crucial that its directors comply with their legal duties. Failure to do so can result in personal liability for the company’s debts as well as legal action and disqualification from being a company director or being involved in a company in the future. We look at exactly what a director’s duties on company insolvency are and some of the risks to be aware
Minority shareholder disputes: What are your rights?
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 directors are overstepping their authority or where they simply feel that their views are not being taken into account. Failure to address the situation will often
Supreme Court decision on litigation funding causes concern
Supreme Court decision on litigation funding causes concern A recent Supreme Court case has cast doubt on the validity of certain types of litigation funding agreements or LFAs. We look at the detail of R (on the application of PACCAR Inc and others) (Appellants) v Competition Appeal Tribunal and others (Respondents) [2023] UKSC 28. The case examined whether a type of litigation funding agreement which allowed the funder to recover a percentage of the damages were considered to be
A guide to remedies for breach of contract: Disputes, resolutions and damages
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, it is important to ensure that you fully understand the legal position that you find yourself in. If the contract has not ended, you could potentially
11 Key Differences Between Arbitration vs Litigation
11 Key Differences Between Arbitration vs Litigation Dealing with a legal dispute is never easy. By involving an expert dispute resolution solicitor early on, you stand the best chance of the right outcome. Options open to you include arbitration and litigation. We look at what arbitration and litigation are as well as 11 key differences. Choosing the right process is important. Some disputes, such as business disputes, property disputes, and consumer claims are well-suited to arbitration, while others,
What are directors’ duties and what happens if they are breached?
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 any losses suffered by the company, its shareholders and its creditors. The main directors' duties are those detailed in the Companies Act 2006 (the Act),
Negligent Misrepresentation vs. Fraud: Understanding the Key Differences
Negligent Misrepresentation vs. Fraud: Understanding the Key Differences When you enter into a contract with another party, you should be able to rely on the representations that have been made to you before you enter into the agreement. If these statements have induced you to agree to the deal and they turn out to be false, you could be entitled to ask the court to remedy the situation on the basis of misrepresentation. We take a look at the