83,584
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 1: | Line 1: | ||
{{isdaanat|9(b)}} | {{isdaanat|9(b)}} | ||
Two lookouts here. | |||
This might not so much matter were it not for | '''One''': according to her majesty’s judiciary, [[email]] ''does not count as an [[electronic messaging system]]''. Let your klaxons blare. It seems absurd at first glance — [[some|Jolly Contrarian]] would say it seems absurd having read the whole judgment in {{Casenote|Greenclose|National Westminster Bank plc}} — but there it is: that is the law of the land at the time of writing. | ||
'''Two''': This might not so much matter were it not for another spectacular outing for her majesty's judiciary<ref>{{casenote|Rock Advertising Limited|MWB Business Exchange Centres Limited}}</ref>, in which Lord Sumption decided that a “[[no oral modification]]” clause is effective in law. This probably makes sense if you are sitting in a law library, or judicial chambers, contemplating the eternal verities, but it makes none if you are managing the cut and thrust of operational contract management. | |||
That said, most financial institutions have an industrial complex covering the negotiation of {{isdama}}s and other trading contracts, so a formal amendment is not likely to pass with copperplate script execution. But where the contract has a manifest error, and the parties perform notwithstanding to the intended commercial bargain - who can say? | |||
And as for [[waiver|waivers]] — especially when your [[credit department]] is in the thrall of setting [[NAV trigger|NAV triggers]] it doesn’t monitor and isn’t likely to to exercise — are a different story. | |||
Waivers are a pain in the posterior. | Waivers are a pain in the posterior. |