Warranty or representation: the £16.75m question - .PDF file.
The High Court considered whether express warranties in a share purchase agreement could also be representations and therefore found a £16.75m claim for misrepresentation rather than a £6m claim for breach of contract. In this instance the court decided that the express warranties were not representations. Although this is not new law, it is a reminder for sellers and buyers to ensure that drafting reflects the intended allocation of risk. These principles and tactics apply equally to all commercial contracts.
Click on the link above to download this briefing.