"I would say that the amount of time I take to draft a good, comprehensive submission has been cut down by at least 60 to 70%. Having all these sources, commentary and journals at my fingertips is brilliant."
ParrisWhittaker
Access all documents on Conditions precedent
Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.
For our full legal glossary and more legal research sources, register for a free Lexis+ trial
Recovering retention—checklist This Checklist sets out the key issues to consider when dealing with the payment or recovery of retention monies. It assumes that the contract is subject to the HGCRA 1996 and primarily refers to employer–contractor retention monies, although the same issues also apply to contractor–sub-contractor retention monies. See Practice Note: Retention of payment in construction contracts for an explanation of retention, when it is usually paid, and the way retention is dealt with under JCT and NEC contracts. • What does the building contract say? At the outset, check the provisions of the building contract surrounding retention. The most common arrangement is that the retention monies are due in two halves: the first 50% is payable after practical completion of the works, and the remainder after completion of any defects notified during the defects period. Building contracts expressly state that the retention should be held on trust. Even if they do not make this provision, case law implies this requirement. However, a common amendment is to remove the...
Drafting terms for the sale of goods—business to business—checklist This Checklist is for drafting terms and conditions for the sale of goods. It sets out the key considerations when drafting business-to-business (B2B) standard form terms and conditions or a contract for the sale of goods. It considers the legal, regulatory and practical issues around the sale and supply of goods and is drafted with a seller/supplier bias. For general guidance on contracts for the sale of goods, see Practice Notes: Contracts for the sale and supply of goods—business to business and Implied terms in contracts for goods and services. For general guidance on key terms in commercial contracts more broadly, see Practice Note: Key terms and conditions in commercial contracts. General considerations Speak to departmental representatives within the business to establish any concerns they have and any customer feedback that should be addressed in the terms. Understand how the goods will be provided and any back-end processes, eg for delivery or returns, which need to be reflected in the terms....
Discover our 57 Checklists on Conditions precedent
Part VI Road Traffic Act (RTA) 1988 and Motor Insurance Bureau agreements This Practice Note provides an introduction to motor insurance, uninsured motorists and untraced drivers, making sense of Part VI of the Road Traffic Act 1988 (RTA 1988) and the Motor Insurers Bureau’s (MIB) Uninsured and Untraced Drivers Agreements. Introduction to Road Traffic Act 1988 and Motor Insurers Bureau Motor insurance in the UK is a surprisingly complicated topic. In mainland Europe, a vehicle’s owner simply insures the vehicle, and the insurer indemnifies any driver who drives with the owner’s permission. In the UK, insurers insure only particular drivers, and then only for particular purposes. RTA 1988 provides for compulsory third-party motor insurance, and a statutory scheme setting out the circumstances in which an insurer will pay damages to an injured person. It implements what is now the Directive 2009/103/EC, Sixth Motor Insurance Directive (the Directive). The MIB is a private body, comprising all of the UK’s motor insurers. It acts as an ‘insurer of last...
Overseas entities and land under the Economic Crime (Transparency and Enforcement) Act 2022—property transactions—Scotland This Practice Note looks at the Economic Crime (Transparency and Enforcement) Act 2022 (EC(TE)A 2022) in the context of property transactions in Scotland. For an overview of EC(TE)A 2022, see Practice Note: Register of overseas entities that hold UK property—fundamentals. For EC(TE)A 2022 in the context of property transactions in England and Wales, see Practice Note: Overseas entities and land under the Economic Crime (Transparency and Enforcement) Act 2022—property registration and restrictions. The provisions of EC(TE)A 2022 relating to the creation of a register of overseas entities and the registration of overseas entities at Companies House came into force on 1 August 2022 and the provisions relating to land ownership and registration came into force on 5 September 2022. Further regulations specifying various matters under EC(TE)A 2022 (such as the definition of an ‘exempt’ overseas entity) are still awaited. Further requirements on overseas entities have been introduced by the Economic Crime and Corporate Transparency Act 2023...
Discover our 354 Practice Notes on Conditions precedent
Short-form facility agreement (term loan): single company borrower—bilateral—unsecured Facility agreement This Agreement is made on [date] Parties 1 [insert name of Borrower], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Borrower); and 2 [insert name of Lender], of [insert address] (the Lender). It is agreed as follows: 1 Definitions and interpretation 1.1 In this Agreement, unless otherwise provided: Business Day • means a day, other than a Saturday, Sunday or public holiday, on which banks are open for business in London; Commitment • means £[•] ([•] Sterling) minus any amount reduced or cancelled in accordance with this Agreement; Commitment Period • means the period commencing on the date of this Agreement to and including [•]; Default • means an event that with the giving of notice, lapse of time or other applicable condition would be an Event of Default under Clause 16; Drawdown • means [the OR a] utilisation of the...
Section 25 notice—landlord opposing renewal (with grounds) under LTA 1954 These drafting notes are for use when completing a landlord’s section 25 notice opposing renewal (with grounds) under the Landlord and Tenant Act 1954 (LTA 1954). They are intended to be used when completing the prescribed form under the Landlord and Tenant Act 1954, Part 2 (Notices) Regulations 2004, SI 2004/1005, which is available here. It is good practice to serve the notice in duplicate and ask the receiving party to endorse and return the duplicate copy to acknowledge receipt. General A business tenancy automatically continues after the initial lease expires under the Landlord and Tenant Act 1954 (LTA 1954). A ‘business tenancy’ is one where property is occupied for the purposes of a trade or profession (see LTA 1954 business lease renewal—termination—Meaning of 'occupied for the purposes of business') unless it is one of 17 types of excluded tenancies (see: LTA 1954 business lease renewal—termination—Excluded tenancies), or where occupation is as licensee or tenant at will. Under LTA...
Dive into our 69 Precedents related to Conditions precedent
What is the logic, under the Loan Market Association leveraged facility agreement, for the split in conditions precedent (CP) between 'CPs to signing the agreement' and 'CPs to initial utilisation'? Further, in circumstances where a share sale and purchase agreement will be signed and the acquisition will complete on the same day, is such a split in CPs under the facility agreement necessary? The convention of splitting conditions precedent (CPs), into ‘CPs to signing the agreement’ and ‘CPs to initial utilisation’, reflects the fact that company acquisitions typically involve a split ‘exchange’, where the key documents are executed and the parties commit to the transaction (subject to certain conditions), and completion, where the money moves and the company or group legally changes hands. Certain CPs, such as corporate authorities, can be given prior to signing, while CPs such as security by the target group can’t be given until completion (the documents can be
What is the effect of an unsigned section 42 notice seeking a lease extension? Is the notice deemed withdrawn or invalid? Any notice which is given by any tenants or tenant under Part I of the Leasehold, Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) must be signed by or on behalf of each of the tenants, or (as the case may be) by or on behalf of the tenant, by whom it is given (LRHUDA 1993, s 99(5)). In Mannai v Eagle Star, the House of Lords upheld as valid a contractual break notice containing an obvious error on the ground that a reasonable recipient would not have been misled by the mistake. In the Court of Appeal case of York v Casey it was held that there was no material distinction between the approach to the validity of notices in a case involving a notice in a statutory context and the approach in Mannai in a contractual setting; as stated by Peter Gibson LJ:...
See the 79 Q&As about Conditions precedent
Insurance & Reinsurance analysis: Ten years on from the introduction of the Insurance Act 2015 (IA 2015), the Court of Appeal has handed down a significant judgment, addressing for the first time the proper characterisation of warranties and representations under the ‘new’ law. The decision provides an important and helpful insight into the operation of IA 2015 and a reminder to parties that while the Act went some way to balancing the rights of insurers and policyholders, an insurer will still be able to avoid a policy where the policyholder is in breach of warranty. Written by Chris Neilson, partner, Leah Alpren-Waterman, of counsel and Katie Henderson trainee solicitor at Mischon de Reya LLP.
Law360, London: A London appeals court has ruled that a British insurer does not have to pay out over 100 tonnes of spoiled beef, finding in the first judgment of its kind that the company storing the meat breached its insurance policy terms.
Read the latest 191 News articles on Conditions precedent
**Trials are provided to all ÀÏ˾»úÎçÒ¹¸£Àû content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these ÀÏ˾»úÎçÒ¹¸£Àû services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
0330 161 1234