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Bank Of Credit And Commerce International SA V Ali
''Bank of Credit and Commerce International SA v Ali'' 001UKHL 8is an English contract law case in the House of Lords on the limits of freedom of contract, and the ''contra proferentem'' principle. Facts Mr Naaem, an employee of Bank of Credit and Commerce International, BCCI SA, claimed damages for economic loss after not having been able to find a job following his redundancy in 1990. BCCI, once the world’s 7th largest bank, had gone insolvent after mass fraud because of the stigma. However, Naaem and other employees had signed a release form saying the redundancy pay was ‘in full and final settlement of any claims... of whatsoever nature that exist or may exist’. BCCI argued Naaem was bound. Judgment The House of Lords by a majority held that because the exposure of fraud would not have been contemplated when Mr Naeem signed, the release did not actually, despite the words, excluded a stigma damages claim. See also *English contract law English contract law is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK House Of Lords
The House of Lords, also known as the House of Peers, is the Bicameralism, upper house of the Parliament of the United Kingdom. Membership is by Life peer, appointment, Hereditary peer, heredity or Lords Spiritual, official function. Like the House of Commons of the United Kingdom, House of Commons, it meets in the Palace of Westminster in London, England. The House of Lords scrutinises Bill (law), bills that have been approved by the House of Commons. It regularly reviews and amends bills from the Commons. While it is unable to prevent bills passing into law, except in certain limited circumstances, it can delay bills and force the Commons to reconsider their decisions. In this capacity, the House of Lords acts as a check on the more powerful House of Commons that is independent of the electoral process. While members of the Lords may also take on roles as government ministers, high-ranking officials such as cabinet ministers are usually drawn from the Commons. The House of Lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Bingham Of Cornhill
Sir Thomas Henry Bingham, Baron Bingham of Cornhill, (13 October 193311 September 2010), was an eminent British judge who was successively Master of the Rolls, Lord Chief Justice and Senior Law Lord. He was described as the greatest lawyer of his generation. Baroness Hale of Richmond observed that his pioneering role in the formation of the United Kingdom Supreme Court may be his most important and long-lasting legacy.Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) p 209. Lord Phillips of Worth Matravers regarded Bingham as "one of the two great legal figures of my lifetime in the law" (the other figure, in context, being Lord Denning).Mads Andenas and Duncan Fairgrieve, ''Tom Bingham and the Transformation of the Law'' (2009) xlvii. David Hope, Baron Hope of Craighead described Bingham as "the greatest jurist of our time". After retiring from the judiciary in 2008, Bingham focused on teaching, writing, and lecturing on legal subject ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Browne-Wilkinson
Nicolas Christopher Henry Browne-Wilkinson, Baron Browne-Wilkinson, PC (30 March 1930 – 25 July 2018) was a British judge who served as a Lord of Appeal in Ordinary from 1991 to 2000, and Senior Lord of Appeal in Ordinary from 1998 to 2000. Life and career Browne-Wilkinson was the sixth child and only son of the Rev Canon Arthur Browne-Wilkinson, MC, and of Mary Abraham, daughter of Charles Abraham, Bishop of Derby. He was educated at Lancing and at Magdalen College, Oxford, where he took a First in Jurisprudence in 1952. He was called to the Bar at Lincoln's Inn in 1953 and took silk in 1972. He was a judge of the Court of Appeal of Jersey and of Guernsey from 1976 to 1977. In 1977, Browne-Wilkinson was appointed a Justice of the High Court of Justice and assigned to the Chancery division, receiving the customary knighthood. He was promoted as a Lord Justice of Appeal in 1983, and was of sworn of the Privy Council. From 1985 to 1991 he was Vice-Chancellor, the ''de fac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Nicholls Of Birkenhead
Donald James Nicholls, Baron Nicholls of Birkenhead, (25 January 1933 – 25 September 2019) was a British barrister who became a Law Lord (Lord of Appeal in Ordinary). Biography Nicholls was educated at Birkenhead School, before reading Law at Liverpool University and Trinity Hall, Cambridge. He was called to the bar in 1958 as a member of the Middle Temple, becoming a Queen's Counsel in 1974. He was made a High Court judge on 30 September 1983, receiving the customary knighthood. On 10 February 1986, he was appointed a Lord Justice of Appeal and subsequently appointed to the Privy Council. He became Vice-Chancellor of the Supreme Court on 1 October 1991. He was appointed a Lord of Appeal in Ordinary on 3 October 1994 and consequently created a life peer as Baron Nicholls of Birkenhead, of Stoke d'Abernon in the County of Surrey. In 1998, Nicholls and the other Law Lords came to the international fore in deciding whether Augusto Pinochet could be extradited to Spain. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Hoffmann
Leonard Hubert "Lennie" Hoffmann, Baron Hoffmann (born 8 May 1934) is a retired senior South African–British judge. He served as a Lord of Appeal in Ordinary from 1995 to 2009. Well known for his lively decisions and willingness to break with convention, he has had an especially large impact on the interpretation of contracts, shareholder actions in UK company law, in restricting tort liability for public authorities, human rights and intellectual property law, in particular patents. Currently, he serves as a Non-Permanent Judge of the Court of Final Appeal of Hong Kong. Early life Born 8 May 1934 in Cape Town, Leonard Hubert Hoffmann was the son of a well-known solicitor who co-founded what has become Africa's largest law firm, Edward Nathan Sonnenbergs. Education He was educated at the University of Cape Town and then attended The Queen's College, Oxford, as a Rhodes Scholar, where he studied for the BCL degree and won the Vinerian Scholarship. Between 1961 and 1973, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Clyde, Baron Clyde
James John Clyde, Baron Clyde, PC (29 January 1932 – 6 March 2009) was a Scottish judge. Biography James John Clyde was born in Edinburgh on 29 January 1932 the only son and youngest child of Margaret Letitia (1901–1974), (daughter of Arthur Edmund DuBuisson), and James Latham McDiarmid Clyde, (later Lord Clyde (1898–1975). . He is grandson of James Avon Clyde, Lord Clyde. He was attended Edinburgh Academy. In 1954 he graduated with a BA Literae Humaniores from Corpus Christi College, Oxford, and from the University of Edinburgh, graduating with a Bachelor of Laws in 1959. Clyde served in the Intelligence Corps from 1954 to 1956, and was admitted to the Faculty of Advocates in 1959. In 1971, he became a Queen's Counsel (Scotland) and was advocate-depute from 1973 to 1974. In 1972, he was made Chancellor to the Bishop of Argyll, and in 1979 Judge of the Courts of Appeal of Jersey and Guernsey, holding both posts until 1985. Between 1985 and 1996, Clyde was Senator of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contractual Terms
A contractual term is "any provision forming part of a contract". Each term gives rise to a contractual obligation, the breach of which may give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract. The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract. Classification of term Condition or Warranty Conditions are major provision terms that go to the very root of a contract breach of which means there has been substantial failure to perform a basic element in the agreement. Breach of a condition will entitle the innocent party to terminate the contract. A warranty is less imperative than a condition, so the contract will survive a breach. Breach of either a condition or a warranty will give rise to dama ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contra Proferentem
''Contra proferentem'' (Latin: "against heofferor"), also known as "interpretation against the draftsman", is a doctrine of contractual interpretation providing that, where a promise, agreement or term is ambiguous, the preferred meaning should be the one that works against the interests of the party who provided the wording. Overview The doctrine is often applied to situations involving standardized contracts or where the parties are of unequal bargaining power, but is applicable to other cases. The doctrine is not, however, directly applicable to situations where the language at issue is mandated by law, as is often the case with insurance contracts and bills of lading. The reasoning behind this rule is to encourage the drafter of a contract to be as clear and explicit as possible and to take into account as many foreseeable situations as it can. Eric Posner claimed: "The contra proferentem rule, for example, might encourage the drafter to be more explicit and to provide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Contract Law
English contract law is the body of law that regulates legally binding agreements in England and Wales. With its roots in the lex mercatoria and the activism of the judiciary during the industrial revolution, it shares a heritage with countries across the Commonwealth of Nations, Commonwealth (such as Australian contract law, Australia, Canadian contract law, Canada, Indian contract law, India), from membership in the European Union, continuing membership in Unidroit, and to a lesser extent the United States. Any agreement that is enforceable in court is a contract. A contract is a Voluntariness, voluntary Law of obligations, obligation, contrasting to the duty to not violate others rights in English tort law, tort or English unjust enrichment law, unjust enrichment. English law places a high value on ensuring people have truly consented to the deals that bind them in court, so long as they comply with statutory and UK human rights law, human rights. Generally a contract forms w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Lords
The House of Lords, also known as the House of Peers, is the Bicameralism, upper house of the Parliament of the United Kingdom. Membership is by Life peer, appointment, Hereditary peer, heredity or Lords Spiritual, official function. Like the House of Commons of the United Kingdom, House of Commons, it meets in the Palace of Westminster in London, England. The House of Lords scrutinises Bill (law), bills that have been approved by the House of Commons. It regularly reviews and amends bills from the Commons. While it is unable to prevent bills passing into law, except in certain limited circumstances, it can delay bills and force the Commons to reconsider their decisions. In this capacity, the House of Lords acts as a check on the more powerful House of Commons that is independent of the electoral process. While members of the Lords may also take on roles as government ministers, high-ranking officials such as cabinet ministers are usually drawn from the Commons. The House of Lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freedom Of Contract
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers. The freedom to contract is the underpinning of ''laissez-faire'' economics and is a cornerstone of free-market libertarianism. The proponents of the concept believe that through "freedom of contract", individuals possess a general freedom to choose with whom to contract, whether to contract or not, and on which terms to contract. History Henry James Sumner Maine proposed that social structures evolve from roles derived from social status to those based on contractual freedom. A status system establishes obligations and relationships by birth, but a contract presumes that the individuals are free and equal. Modern libertarianism, such as that advanced by Robert Nozick, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Credit And Commerce International
The Bank of Credit and Commerce International (BCCI) was an international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The bank was registered in Luxembourg with head offices in Karachi and London. A decade after opening, BCCI had over 400 branches in 78 countries and assets in excess of US$20 billion, making it the seventh largest private bank in the world. BCCI came under the scrutiny of financial regulators and intelligence agencies in the 1980s, due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and other financial crimes, and had illegally gained the controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991, and, on 5 July of that year, customs and bank regulators in seven countries raided and locked down records of its branch offices during Operation C-Chase. Investigators in the United States and the UK determined that BCCI ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
