Electronic messaging system

2002 ISDA Master Agreement A Jolly Contrarian owner’s manual™ Resources and navigation [[{{{1}}} - 1992 ISDA Provision|This provision in the 1992]] Resources Wikitext | Nutshell wikitext | 1992 ISDA wikitext | 2002 vs 1992 Showdown | 2006 ISDA Definitions | 2008 ISDA | JC’s ISDA code project Navigation Preamble | 1 • (a) (b) (c) | 2 • (a) (b) (c) (d) | 3 • (a) (b) (c) (d) (e) (f) (g) | 4 • (a) (b) (c) (d) (e) | 5 • 5(a) Events of Default: 5(a)(i) Failure to Pay or Deliver 5(a)(ii) Breach of Agreement 5(a)(iii) Credit Support Default 5(a)(iv) Misrepresentation 5(a)(v) Default Under Specified Transaction 5(a)(vi) Cross Default 5(a)(vii) Bankruptcy 5(a)(viii) Merger Without Assumption 5(b) Termination Events: 5(b)(i) Illegality 5(b)(ii) Force Majeure Event 5(b)(iii) Tax Event 5(b)(iv) Tax Event Upon Merger 5(b)(v) Credit Event Upon Merger 5(b)(vi) Additional Termination Event (c) (d) (e) | 6 • (a) (b) (c) (d) (e) (f) | 7 | 8 • (a) (b) (c) (d) | 9 • (a) (b) (c) (d) (e) (f) (g) (h) | 10 | 11 | 12 • (a) (b) | 13 • (a) (b) (c) (d) | 14 | Index: Click ᐅ to expand: 2002 ISDA 1992 ISDA Section electronic messages in a Nutshell™ Use at your own risk, campers! “electronic messages” and “electronic messaging system” excludes e-mails but includes XML documents and similar markup languages. view template Full text of Section electronic messages “electronic messages” does not include e-mails but does include documents expressed in markup languages, and “electronic messaging system” will be construed accordingly. view template Related agreements and comparisons Click here for the text of Section electronic messages in the 1992 ISDA Template:Isdadiff electronic messages Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Content and comparisons

No equivalent definition in the 1992 ISDA. There wasn’t really such a thing as email back then.

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Summary

An innocuous definition you would think but you would be wrong. For behold: an electronic message excludes e-mail. This was a persuasive factor in the learned judge’s idiosyncratic reasoning in the great case of Greenclose v National Westminster Bank plc, a case that illustrates the point that little old ladies make bad law.

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General discussion

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See also

• Greenclose v National Westminster Bank plc

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References

Is email an electronic messaging system as contemplated by Section 12 of the 1992 ISDA? No, according to Greenclose v National Westminster Bank plc. Nor, as is abundantly clear, in the 2002 ISDA, however counter-intuitive this may seem.

See also

• Electronic messages