Posted in Contract Law

Déséquilibre significatif : quelles sont les principales évolutions de la jurisprudence ?

While several jurisdictions can count on abusive clause’s laws to give shelter to consumers, France tackled such abuses between commercial entities too with a 2008-law.

The Four main takeaways are that:

  • the range of actions is growing and reaches also relationship of unbalanced paower
  • a ruling is not limited to the single clause but the the overall contract
  • the unbalancement is quite broad as a concept, therefore rather far-reaching
  • the check on the legitimity is now even extended to the price assessment.

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Posted in Contract Law

California’s Automatic Renewal Law: three recent decisions, and what they mean for businesses

Renewal clauses must be clear and conspicuous+ affirmative consent are required before charging a customer’s account + an acknowledgment including the automatic-renewal terms, cancellation policy and information regarding how to cancel the subscription in a manner that is capable of being retained by the consumer must be provided to the customer.

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Posted in Contract Law, Corporate Law

NEW OBLIGATION TO DISCLOSE PAYMENT PRACTICES IN THE UK

Interesting news from UK.

All companies with, at least 2 of these thresholds met on the last two balance sheet dates:

  • Turnover > £36 million
  • Balance sheet total > £18 million
  • 250+ employees on average

And all parent companies which satisfy the above and also, as a group, comply with, at least, 2 of these thresholds on the last two balance sheet dates:

  • Aggregate turnover is £36 million net (or £43.2 million gross)
  • Aggregate balance sheet total is £18 million net (or £21.6 million gross)
  • Aggregate employees are 250

Will have to report, from 6 April 2017 :

  • Descriptions of:
    • ‘standard’ payment terms ,including:
      • Contractual length of time for payment of invoices
      • Maximum contractual payment period
      • Any changes to the ‘standard’ payment terms in the reporting period and how suppliers have been notified or consulted on these changes
    • Dispute resolution process related to payment
  • Statistics on:
    • The average # of days to make payments from receipt of invoice,
    • % of payments in the reporting period within (i) 30 days or less, (ii) 31 to 60 days and (iii) 61 days or longer,
    • % of payments due in the reporting period which were not paid within agreed terms
  • Yes / No statements about:
    • the availability of supply chain finance and e-invoicing
    • existence of practices and policies to deduct sums from payments to keep the suppliers on the supplier list
    • membership with a payment code and the name of the code (if applicable)

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Posted in Contract Law, Miscellaneous

Trump-Owned Golf Course Must Pay Members Millions

Mr. Trump is an amazing person and businessman. Seriously.

He purchased this golf course in Florida on the edge of Bankruptcy (purchasing price $5m, debts $50m). Then he had all its members wishing to withdraw their membership written that this would be only possible when new members would come in (potentially some-years away from that day) and that they could forget about their refunds.

Tiny details: Contract Law; a federal Judge condamned the golf course to pay back $5.7 million for refusing to refund membership fees ($4.85 million in withheld fees, plus an additional $925,000 in interest and other costs).

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