Rectification Agreement Deutsch

11 Apr

FSHC filed an application for rectification by Part 8. Although GLAS Trust Corporation Ltd was not the original security officer (and therefore did not participate in the original claim), it was included in the litigation after its appointment earlier this year. It should be noted, however, that this clarification of the law does not mean that rectification will now be easier to obtain. Indeed, the opposite is true: in the absence of a previous contract, the applicant must not only prove that he had a particular intention, but that the defendant shared that intention and that the parties agreed to share that intention. Given the difficulties in proving that a common error has been found, an applicant may, in future transactions, consider the following practical measures: this decision was challenged by the defendant (the “security officer”) on the ground that the rectification test, without questioning the judge`s factual findings, was purely objective and that, on that basis, an objective observer would have concluded that the parties intended to undertake additional obligations for the HSF. In the end, the Court of Appeal found that Lord Hoffman`s statements at Chartbrook did not accurately correct the law and that some, to make a request for rectification, had to show that the document had no effect: in 2016, however, the verification of the security documents revealed that the transfer of the benefit of a shareholder loan (since it was the guarantee that should have existed) had not been carried out. In order to correct this omission, FSHC entered into acts (the “deeds”) to adhere to two existing security agreements, although it later emerged that these agreements were in force in terms of security and that HSF imposed additional and heavy obligations. The Court of Appeal`s decision at the beginning of the Court of Appeal`s decision was found that there was “uncertainty and dissatisfaction” in the Rectification Act for a frequent error – particularly according to the earlier findings of Lord Hoffman in Chartbrook Ltd/Persimmon Homes Ltd2, in which he felt that the test was entirely objective and that the parties` actual subjective intentions were not significant. Comment This case serves as a useful clarification of the rectification law because of a frequent error related to very contradictory jurisprudence in this area. Subject to the Supreme Court`s decision, there are now clearly defined tests that must be applied by the courts when considering this issue. Finally, this decision is a useful reminder that the parties entering into contracts must scrupulously respect the text of the document (and all other documents to which the contract refers) in order to ensure that the explicit rights and obligations set out in the treaty are generally consistent with their conception of the agreement. In its judgment, the Court of Appeal conducted a thorough review of the case law and stated that “the jurisdiction of the Court of Justice to correct errors in written acts can be traced by rectification of its roots in canonical and Roman laws.” The Court also considered matters of public policy and injustice before concluding. In that decision, the Court of Appeal also stated that the doctrine is derived from a just principle of good faith, so that a party must not enforce the terms of a written contract if it is contrary to conscience, to the extent that it is inconsistent with the mutual intentions of the parties at the time of the contract.

No Comments

Posted in Uncategorized


Comments are closed.