||All England Reporter
|| All ER (D) 156 (Nov)
|| EWHC 1850 (Ch)
||Romie Tager QC and Stuart Hornett (instructed by Messers Lass Salt Garvin) for the claimant.
||Matthew Parker (instructed by McGrigors) for the defendant.
||28 June 2010
Contract - Formation - Terms and conditions on which contract made - Claimant agreeing to buy loan note from defendant - Terms of agreement not recorded in writing - Whether defendant contracting as principal or agent for third party - Whether agreement for an option or a repurchase agreement.
Contract Formation. The Chancery Division of the High Court held that a transaction entered into between the claimant investment fund and the defendant involved a repurchase agreement for a note, by which the defendant was bound to repurchase the note, and its failure to do so constituted a breach of contract.
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