Electronic messages - ISDA Provision

2002 ISDA Master Agreement A Jolly Contrarian owner’s manual™ electronic messages in a Nutshell™ The JC’s Nutshell™ summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack. electronic messages in all its glory “electronic messages” does not include e-mails but does include documents expressed in markup languages, and “electronic messaging system” will be construed accordingly. edit Related agreements and comparisons Click here for the text of Section electronic messages in the 1992 ISDA Template:Isdadiff electronic messages Resources and Navigation 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 Premium version of this page

Overview

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

Summary

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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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• The JC’s famous Nutshell™ summary of this clause
• A long disquisition on the subject of Welsh hoteliers, options that expire during the Grundle, and the perils of putting your fate in the hands of perfectly sensible lawyers who don’t have to look at ISDA contracts, or use email, very often.

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See also

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• Greenclose v National Westminster Bank plc