Specific performance (Commercial) meaning

Question Answer This Checklist is for in-house lawyers. It helps you gauge how well you grasp the key finance and accounting concepts you are likely to encounter day to day, and how they apply within the business. Use it to spot knowledge gaps-both technical and business-specific-and to prioritise what to tackle next so you can contribute more effectively to commercial discussions. Assess your current confidence level honestly; this will show you where to concentrate your learning. Some questions test awareness of concepts, others explore how you have used this knowledge practically; use both to target your development. If several areas feel uncomfortable, that is common and fixable. See Practice Notes: Introduction to business finance and accounting-financial accounting and external performance and Introduction to business finance and accounting-management accounting and internal decision-making for guidance on the essentials of business finance and accounting, and why this matters for in-house lawyers. See: Improving your financial literacy-checklist for practical steps that you can take to improve your financial literacy and understanding of how...

How to use this Checklist This Checklist aims to flag matters that frequently arise during negotiation and drafting of the following agreement types: Website development agreement — long form Website development agreement — short form For more detail on the points raised by this Checklist, see the following Practice Notes: Website design and development Domain names—background, registration and dispute resolution Intellectual property rights considerations for websites For software-specific issues, see Practice Note: Key issues in software licence agreements. Where appropriate, this Checklist may act as the basis for a simple, non-binding heads of terms. For guidance on doing so, see Precedent: Heads of terms—commercial contracts. The third column can be used to note observations or comments while working through the Checklist. Checklist for proposed website development agreement Checklist | Further information | Notes (if any) (A) Key commercial considerations Verify each party’s legal status and whether...

Checklist to assist with taking instructions from a business when drafting a consultancy agreement See also: Key provisions in a consultancy agreement—checklist. Precedents For precedent consultancy agreements, see: Consultancy agreement—company and individual—pro-client Consultancy agreement—company and company—pro-client Consultancy agreement—individual and company—pro-consultant Consultancy agreement—company and company—pro-consultancy Consultancy agreement—company and individual—pro-client (short form) Side letter to consultancy agreement—company and company—pro-client Further related guidance See: Consultancy services—overview and Practice Notes: Managed service companies and the anti-avoidance legislation Deciding appropriate employment status Personal service companies—the key benefits and key tax considerations Securing intellectual property rights from employees and contractors IR35—the large and public client off-payroll regime—practical considerations for the end client Issue Business objectives Why do you want to appoint a consultant? What are you trying to achieve? Service scope What services will fall within the scope of the...

Key takeaways From 29 January 2024, the Arrangement comes into force in Hong Kong and Mainland China. It will streamline the cross-border recognition and enforcement of the majority of civil and commercial judgments across both legal systems and jurisdictions. The Arrangement marks a material enhancement to the existing regime, giving parties engaged in Hong Kong and Mainland Chinese proceedings heightened confidence that, where criteria are met, eligible judgments will be recognised and enforced. It also allows for the recognition of non-monetary judgments, empowering judgment creditors to seek enforcement of injunctions and orders for specific performance. In addition, the Arrangement’s simplified jurisdictional criteria will materially ease enforcement by Hong Kong judgment creditors against assets within Mainland China, and by Mainland Chinese judgment creditors against assets within Hong Kong. Introduction Effective from 29 January 2024, the Arrangement will apply in Hong Kong and Mainland China. It is intended to support the mutual recognition and enforcement of most types of civil and commercial judgments...

Innovate Pharmaceuticals Ltd v University of Portsmouth Higher Education Corp [2024] EWHC 35 (TCC) What are the practical implications of the case? The ruling is significant for commercial practitioners as it explores the drafting and interpretation of exclusion and limitation provisions, especially where a clause states ‘unless fraudulent’ or similar wording. This matters to both contract drafters and litigators: properly construed, the references to fraud in the exclusion and limitation clauses were confined to fraudulent misrepresentation. As the claim did not allege fraudulent misrepresentation, the judge decided that, even if any breach of contract had been carried out dishonestly, UoP could still invoke the relevant protections. In addressing UCTA 1977, the judge recognised that assessing whether a term is ‘reasonable’ under UCTA 1977, Sch 2, s 11 is inherently fact-specific and outlined a range of pertinent considerations... There was no disparity in bargaining power between the parties. Innovate had actively negotiated the contractual terms. The sums paid to UoP were very low... ...

In this issue: Wills Probate Trusts Court of Protection UK taxes for Private Client HMRC Manuals tracker Tax avoidance, evasion and non-compliance Regulatory compliance for Private Client Charity and philanthropy Pensions, insurance and tax efficient investments Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Useful information Wills Court treats gifts to specified charitable bodies as directed to their charitable purposes, rather than contingent on those bodies still existing when the testatrix died (British Camelids Ltd (personal representative of Candia Midworth) v Brooke Hospital for Animals). The Chancery Division considered a will executed on 29 September 1994 that distributed the residuary estate among a range of beneficiaries, including charities. It held that the charitable legacies named in the...

This Practice Note This Practice Note highlights the principal points to weigh when shaping service levels, and the recourse for missing them, within outsourcing contractual arrangements. When preparing service level agreements (SLAs), matters to consider include the category of service level, what is assessed, cost and quality, outputs and outcomes, the means of measurement, service credits and other remedies, earn back and performance incentives, and adjustments to service levels during the term. The precise measures and metrics adopted in SLAs will turn on the nature of the services. It is prepared to apply to any kind of outsourcing and does not specifically centre on IT services (though what is outlined here remains pertinent in that sphere). For IT‑specific service level material, see Practice Note: Key issues in SaaS and hardware/software maintenance SLAs and Precedents: Service Level Agreement (hardware/software fault resolution support services) and Service Level Agreement (Availability (uptime) service level for SaaS). The service level schedule is among the most significant components in an outsourcing contract. It sets how...

Advertising and marketing-Brazil-Q&A guide [Archived, 2021 edition] This Practice Note provides a jurisdiction-specific Q&A on advertising and marketing in Brazil, issued within the Lexology Getting the Deal Through series by Law Business Research (October 2021). Authors: IWRCF-Luiz Werneck; Talita Sabatini Garcia. 1. What are the principal statutes regulating advertising generally? the Brazilian Federal Constitution; the Consumer Protection Code (Federal Law No. 8,078/90); the Statute of the Children and Adolescents (Federal Law No. 8,069/90); the Brazilian Advertising Self-Regulation Code; Federal Law No. 5768/71; Decree No. 70,951/1972; Federal Law No. 5,768/71 and Decree No. 70,951/1972 regulate commercial promotions and sweepstakes; National Health Surveillance Agency resolutions. 2. Which bodies are primarily responsible for issuing advertising regulations and enforcing rules on advertising? How is the issue of concurrent jurisdiction among regulators with responsibility for advertising handled? In Brazil, rule-making for advertising is led by the National Advertising Self-Regulation Council (CONAR) and by the government, represented by the House...

This Practice Note outlines breach of contract and the remedies that may follow. It addresses what can constitute a breach, how the courts evaluate that question by construing the parties’ contractual obligations, the remedies available, and the deployment of clauses that cap or restrict consequent liability and/or compensation. It also looks at whether a breach of contract claim can be pursued and the method for claiming late payment interest. For a broader overview of contract law, see Practice Note: Ireland—Contract law essentials. Breach of contract A breach arises where one party (‘the defaulting party’) fails or declines to fulfil duties owed under the contract, in whole or in part. The other contracting party (‘the innocent party’) may then consider potential remedies for that failure. It should be remembered that a defaulting party with a lawful excuse for non-performance will generally not be in breach. This is distinct from force majeure clauses, which permit non-performance when specified events occur, eg war or sanctions, etc...