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Bad leaver provisions enforceable as not penalties
03 August 2018In the recent case of Signia Wealth Limited v Vector Trustees Limited, the court held that the company’s bad leaver provisions (pursuant to which a leaving shareholder was compelled to sell their shares for less than their value) did not fall foul of the penalty doctrine and were therefore enforceable.
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Court implies duty of good faith in “relational” contract
26 June 2018The courts may be more willing to imply a duty of good faith into joint venture agreements, following a recent High Court case.
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What makes a company a quasi-partnership?
20 March 2018Lord Wilberforce’s observation that “a company, however small, however domestic, is not a partnership…” indicates that there are clear distinctions between even the smallest companies and partnerships. However, case law has shown that in some instances the court has been willing to deem companies “quasi” or “in substance” partnerships.