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Debt › Breach of Contract › United Kingdom

A&O Shearman

Breach it and weep: deemed fulfilment ain’t fictional

A&O Shearman on

The Court of Appeal has held that a party who prevents a condition precedent to their obligation to pay from being met cannot rely on the unfulfilled condition to escape their liability in debt....more

A&O Shearman

An interest-ing question: when is a default interest rate a penalty?

A&O Shearman on

The Court of Appeal has affirmed a three-step test for penalty clauses: (1) is it a secondary obligation; (2) does the clause protect a legitimate interest; and (3) is it extortionate by reference to the legitimate interest?...more

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