On a share sale agreement, a retention was made with respect to a possible action. A clause in the agreement created a procedure for counsel’s opinion to be obtained as to its chances. The buyer obtained counsel’s opinion as provided.
Held: The defendant would not be allowed to go behind counsel’s opinion to challenge its basis or the instructions which led to it. It had been intended to act as a form of certificate to secure the money at issue until trial, and the only issue was as to whether it stood in the form agreed.
Judges:
Mr Justice Lightman
Citations:
Gazette 08-Aug-2002
Jurisdiction:
England and Wales
Company, Contract
Updated: 27 June 2022; Ref: scu.174458