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When drawing up contracts with automatic renewal clauses it is important to ensure that you fully understand what is being agreed. Failure to do so can prove costly, as demonstrated in a recent case before the High Court. It involved an IT company and a bank that had entered into an agreement. There was a
Many UK small and medium-sized enterprises (SME) are struggling with cash flow and are relying on their reserves to finance growth, according to new research. The British challenger bank, Aldermore, surveyed 300 SMEs and found that 38% are depending on cash reserves to fund future development. A further 12% said they will turn to a
A contractor has been found liable for the damage caused by a factory fire even though the client was partly responsible for what happened. The contractor had been hired to refurbish a factory roof. This required providing a suspended scaffold cage which contained gas-powered heaters. Part way through the contract a fire broke out causing
A company has been granted an interim injunction to prevent a former employee from soliciting its clients. The case involved an employee who had been a senior manager and associate director of the company. In October 2012, he was told that he was no longer a senior manager but could continue as an associate director.
A distribution company has been ordered to pay damages to a perfume manufacturer after it failed to meet several requirements of a longstanding contract. The two parties had an agreement dating back to 2003. The relationship soured and so in July 2010, the manufacturer gave 12 months notice to terminate the agreement. The distributor responded
Many businesses overestimate the burden placed on them by employment regulations, according to Government research. Its survey found that businesses that view regulations as burdensome often did so because of a lack of understanding of employment law. Dismissal processes were seen as particularly stressful and costly, with some employers going beyond the legal requirements because
The Government says thousands of firms are being freed from red tape as result of its campaign to reduce business regulations. The interim results from the Company and Commercial Law Red Tape Challenge show that half of the 115 regulations affecting the day to day running of businesses and filing of accounts are to be
Chancellor George Osborne has announced two new schemes designed to help potential homebuyers who can afford to pay a mortgage but find it difficult to raise a large deposit. The measures were announced in the Budget. The first scheme is called Help to Buy: equity loan, and applies to new build properties only. It expands
Courts usually try to share marital assets equally during divorce settlements, but what happens if some assets don’t become available until several years after the separation? The issue arose in a recent case before the High Court. The husband had founded a successful company in the early years of the marriage. Both husband and wife
Prime Minister David Cameron has become a ‘Dementia Friend’ as part of a campaign to raise awareness of the illness and the traumas it can cause. The initiative is being promoted by the Alzheimer’s Society, the Department of Health and the Office for Civil Society. The number of dementia sufferers in the UK is set