Lordvale Finance plc v Bank of Zambia: 1996

The parties’ contract provided for an uplift of 1% for late payment of a debt.
Held: This was a genuine pre-estimate on the basis that it indicated that the borrower was a risky borrower. It was not a penalty.

Judges:

Colman J

Citations:

[1996] QB 752

Jurisdiction:

England and Wales

Cited by:

CitedJeancharm Ltd (T/A Beaver International) v Barnet Football Club Ltd CA 16-Jan-2002
The claimant contracted to supply football shirts to the defendant, but claimed that clauses in the contract with regards to late delivery and payment operated as penalties and so were void at common law.
Held: The sums set out were immodest . .
Lists of cited by and citing cases may be incomplete.

Contract

Updated: 17 May 2022; Ref: scu.267347