Commercially reasonable manner: recent jurisprudence on the much used qualifier

In over-the-counter financial instruments, phrases such as ‘commercially reasonable manner’ are often employed, sometimes with complete abandon, as a contractual check and balance or control exercise, but often at the cost of speed and certainty for the parties to the transaction.

The search for a universally applicable definition or test of what the term means is not possible because the meaning of the phrase has to be determined as a matter of construction of the particular agreement in its particular context.

However, the recent decision of the English Court of Appeal in Barclays Bank plc v Unicredit Bank AG & Anr at least provides some up-to-date judicial guidance on the phrase much used in the context of determinations made by parties to financial instruments…

Click on the link below to read the rest of the Macfarlanes briefing.

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Macfarlanes

View more briefings from Macfarlanes

Analysis from The Lawyer

View more analysis from The Lawyer

Browse This Firm’s


20 Cursitor St

Turnover (£m): 139.75
No. of lawyers: 260