Oral Contracts -- Closing a Distressed Debt Trade Over the Phone (the Binding Basics)

Hickmott, Robert
January 2010
Credit Control;2010, Vol. 31 Issue 1, p14
Trade Publication
The article discusses the court case decision of Bear Stearns Bank PLC v. Forum Global Equity Ltd. concerning the implications of oral contracts in Great Britain. According to the author, the High Court's decision has provided insights on how to handle oral contracts in the context of distressed debt trading. Further, the decision has rendered an assurance that if materials terms are agreed, it could not be easily dodged by claims of uncertainty or incompleteness.


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