WebAug 11, 2024 · It was not in dispute that the CMC had an implied Braganza duty to act in a manner that was reasonable and not irrational, arbitrary or capricious. However, the court held that CMC’s decision to close out the account was not irrational, in particular because: WebJan 20, 2024 · as a more general matter, the Braganza Duty has no application to unqualified termination provisions within complex commercial agreements, negotiated by sophisticated commercial parties.
They say ‘discretion is the better part of valour’, but beware when ...
WebFeb 7, 2024 · The lender appealed, on the basis that its discretion under the facility agreement was absolute and was not restricted by the Braganza duty or any implied duty of good faith. High Court (Chancery Appeals Division) decision. The court found in favour of the lender and upheld the statutory demands. WebThe Braganza duty is in principle relevant to finance agreements of all types and the law itself emerged in the context of finance and banking agreements; this is the case even though such ... subway martinsville in phone number
Braganza Duty - Protecting Borrowers in Mortgage …
WebA note on the effect of duties of good faith in English contract law, including the duty of rationality (the Braganza duty) and the implications for practitioners drafting commercial … WebIn Braganza v BP Shipping Limited [2015] UKSC 17 the Supreme Court found such a contractual discretion, where there is no clear language in the commercial contract to the contrary, to be subject to an implied duty and that the discretion should be exercised in good faith and not arbitrarily or in a capricious way. This duty is recognised as the ... WebThe authorities have generally focussed on the end result of the exercise of a contractual discretion. However, in Braganza v BP Shipping Limited [2015] UKSC 17, the idea of the Court’s review of not only the outcome of a party’s exercise of a contractual discretion but also the process by which it exercised the discretion was raised. In ... paint for cats