Legal update: international trade and commodities — April 2013
Ince & Co has published the April 2013 edition of its International Trade and Commodities Legal Update. It covers topics including sale of goods, shipping and commercial litigation.
Traditionally, English law does not recognise a general duty of good faith applicable to contracts (with certain limited exceptions, such as insurance contracts). Rather, the English courts recognise the right and freedom of commercial contracting parties to enter into an agreement on whatever terms they see fit and to prioritise their own self-interest (subject obviously to the usual constraints imposed by considerations of public policy, illegality etc.). This is so irrespective of whether or not the courts might otherwise consider that one or other party has made a bad bargain or compromised itself commercially by what it has agreed to. The overriding principle is that the English courts will not rewrite the parties’ contract for them. Therefore, where it is intended that one or both parties should perform any or all of their obligations under a contract in good faith, this should be provided for expressly in the contract…
If you are registered and logged in to the site, click on the link below to read the rest of the Ince & Co briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
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
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
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.
News from Ince & Co
News from The Lawyer
Briefings from Ince & Co
The International Maritime Organisation (IMO) has produced a draft Polar Code to cover all aspects of shipping in the Arctic and Antarctic areas.
Court of Appeal considers whether dishonouring LC bank has title to sue under indorsed bill of lading
The Court of Appeal has given judgment in a case that has implications for all traders who rely on letters of credit for payment security in their sale and purchase transactions.