Template:M summ 2002 ISDA 9(f): Difference between revisions

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[[Waiver]]: a place where the laws of the New World and the Old diverge. Does one really need a contractual provision dealing with the consequences of a fellow’s good-natured ''indulgence'' when carrying on commerce under an {{isdama}}? Those with an English qualification will snort, barking reference to {{casenote|Hughes|Metropolitan Railway}} and say this Section 9(f) is inconsequential fluff that goes without saying; those acquainted with the [[Uniform Commercial Code]] and the monstrous slabs of Manhattan will tread more carefully, lest they create a “[[course of dealing]]”.
{{isda 9(f) summ|isdaprov}}
 
Since the {{isdama}} was designed with ''either'' legal system in mind, {{icds}} came up with something that would work in either. to be sure it may offend stylists and minimalists like the [[JC]] who ply their trade in the old country, ''but it does no harm''.
 
{{Course of dealing vs waiver}}

Latest revision as of 16:49, 15 April 2020

Waiver: a place where the laws of the New World and the Old diverge. Does one really need a contractual provision dealing with the consequences of a fellow’s good-natured indulgence when carrying on commerce under an ISDA Master Agreement? Those with an English qualification will snort, barking reference to Hughes v Metropolitan Railway and say this Section 9(f) is inconsequential fluff that goes without saying; those acquainted with the Uniform Commercial Code and the monstrous slabs of Manhattan will tread more carefully, lest they create a “course of dealing”.

Since the ISDA Master Agreement was designed with either legal system in mind, ISDA’s crack drafting squad™ came up with something that would work in either. To be sure, it is calculated to offend literary stylists and those whose attention span favours minimalism amongst those who ply their trade in the old country, but it does no harm.

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