Stuff you should know
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In a desperate attempt to stop salespeople going, “hey legal eagles, can you read this email for me”, and to counterpoint lackadaisical credit officers saying, “the question of whether we have credit risk to that bank account is a legal question on which I can’t opine”[1] we are running a snagging list of remedial
- How agency works and why you can’t be agent for yourself
- The nature of cash and indebtedness
- Offer, acceptance and consideration
- How set-off works, and more particularly, when it doesn’t. Why you can’t set off debts owed by different counterparties.
- The difference between title transfer and pledge.
- ↑ Real-life quote, by the way, from a managing director in a global investment bank, to which the retort was, “pal, if you are really saying you don’t know that, you need to get your coat”