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…

Click on the link below to read the rest of the  Walker Morris briefing.

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