Constraints on contractual decision-making: unresolved issues

Constraints on contractual decision-making:unresolved issues

 

Fred Hobson KC and Vanshaj Jain, Brick Court Chambers

 

Contracts often give one party a power to make certain decisions, e.g. in the finance context, the bank has a contractual discretion to close out a client’s trading position. Does that party have a free hand to decide as they see fit – or will the court step in to say that the decision-making power must be exercised rationally? Significant unresolved issues abound. How intrusive is the court’s review of contractual decision-making? Can termination rights be subject to review? If a breach is established, does this result in the nullity of the decision or a claim to damages? Fred and Vanshaj acted in one of the key cases in this area, and are well placed to discuss how these issues are best navigated.

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