Commercially reasonable manner: Difference between revisions
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{{a|glossary|}}{{a|negotiation|}} | {{a|glossary|}}{{a|negotiation|}} | ||
{{ | {{good faith capsule}} | ||
===Absolute discretion=== | |||
To be sure, sometimes you might want to be able to act — or, more likely, ''not'' act — in your [[absolute discretion]]. Here you do not want argument. At least for “omission” cases, the “[[I never said it was]]” principle ought to get you home. But you might say the following: | |||
:'''Standard of conduct''': Each party must act in good faith and (unless expressly entitled to act in its absolute discretion) in a [[commercially reasonable manner]].}} | |||
====The law==== | ====The law==== | ||
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*Recent case-law ({{casenote|Barclays|Unicredit}}) finds that acting in a commercially reasonable manner means having regard to one’s own commercial interests, not the other chap’s. | *Recent case-law ({{casenote|Barclays|Unicredit}}) finds that acting in a commercially reasonable manner means having regard to one’s own commercial interests, not the other chap’s. | ||
{{ | {{sa}} | ||
*{{csaprov|Good Faith and Commercially Reasonable Manner}} (CSA Provision) | *{{csaprov|Good Faith and Commercially Reasonable Manner}} (CSA Provision) | ||
*[[Implied term]]s (could a {{tag|commercially reasonable}} standard ever be implied? In England, no; in the US, yes). | *[[Implied term]]s (could a {{tag|commercially reasonable}} standard ever be implied? In England, no; in the US, yes). |