The meaning of ‘issued and served’ in a limitation of liability clause

A corporate sale and purchase agreement will typically contain provision for the service of notices. In particular, the schedule of limitations will typically provide for a cut-off date by which the buyer must notify the seller of any potential claims, and a further time period within which legal proceedings must be commenced and served.

 The Civil Procedure Rules state the following with regard to service of proceedings:

  • CPR 7.5 — rule for despatching a claim form. Where the claim form must be dispatched within the jurisdiction, the claimant must ‘complete the [prescribed] step’ in relation to the chosen method of service before 12 midnight on the calendar day four months after the date of issue of the claim form…

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