Penalty clauses: all clear now?
As indicated in our briefing on penalty clauses in June, the El Makdessi and ParkingEye cases have been reviewed by the Supreme Court, which has now given an important ruling aimed at clarifying the law.
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"Good Faith" - What does it mean?
Does the term "good faith" mean anything when used in a contract governed by English law? And, if so, what effect is a "good faith" obligation likely to have in practice?