The claimant sought to enforce a joint venture agreement under which a loan had been made. They said the defendant had accepted an obligation to secure repayment or indemnify them. The defendant said it had adopted only an administrative role.
Held: The case depended upon the meaning of the word ‘procure’. That was settled in Barnicoat. There was nothing in the background to support any alternative interpretation, and the use of the word was not limited.
Judges:
Peter Smith J
Citations:
[2006] EWHC 2421 (Ch)
Links:
Jurisdiction:
England and Wales
Citing:
Cited – Prenn v Simmonds HL 1971
Backgroun Used to Construe Commercial Contract
Commercial contracts are to be construed in the light of all the background information which could reasonably have been expected to have been available to the parties in order to ascertain what would objectively have been understood to be their . .
Cited – Barnicoat and Othersl v Knights and Others ChD 2004
Someone who agrees to procure that someone else performs a contractual obligation is required first to attempt to ensure that that person complies with the obligation, but if he fails to comply then he must pay damages calculated by the amount that . .
Cited – Investors Compensation Scheme Ltd v West Bromwich Building Society HL 19-Jun-1997
Account taken of circumstances wihout ambiguity
The respondent gave advice on home income plans. The individual claimants had assigned their initial claims to the scheme, but later sought also to have their mortgages in favour of the respondent set aside.
Held: Investors having once . .
Lists of cited by and citing cases may be incomplete.
Contract
Updated: 04 September 2022; Ref: scu.245216