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Credit Suisse First Boston (Europe) Ltd v Seagate Trading Co Ltd: 1999

An oral contract for the sale of Russian Notes was followed by a Trade confirmation with an English jurisdiction clause. It was said that this document was fraudulently presented by Credit Suisse as a mere perfunctory confirmation (which it was not) and that the oral contract was not with Credit Suisse Europe but with Credit Suisse US and that there was a specific agreement that the deal was to be centred in New York where Credit Suisse US had its centre of business.
Held: The English jurisdiction clause could not be relied on, whether or not the allegations of fraud were, in the event, made out.

Judges:

Rix J

Citations:

[1999] 1 Lloyds Rep 784

Jurisdiction:

England and Wales

Cited by:

CitedFiona Trust and Holding Corporation and others v Privalov and others CA 24-Jan-2007
The court was asked whether when contracts have been induced by bribery and have been rescinded on discovery of the bribery, that constitutes a dispute which can be determined by arbitration in the context of a common form of arbitration clause.
Lists of cited by and citing cases may be incomplete.

Contract, Jurisdiction

Updated: 23 November 2022; Ref: scu.248227

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