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Fundamental principles of the new contractual law in the Czech Republic

Fundamental principles of the new contractual law in the Czech Republic

The new contractual law in the Czech Republic, which had been incorporated in one legal code (New Civil Code, the “NCC”), is based on the following fundamental principles: Principle of autonomous will According to this principle the parties may diverge from the statutory provisions to suit their needs, i.e. the ... Read More »

Ronald under fire: McDonald’s may be liable for franchisees’ actions

Ronald under fire: McDonald’s may be liable for franchisees’ actions

Large companies known as “franchisers” often allow “franchisees,” or smaller independent contractors, to use their trademark and distribute their goods or services for a fee. Most people are familiar with the franchise model in the fast-food in­dustry. Your local McDonald’s, for instance, is a franchise of the larger McDonald’s company. ... Read More »

Rule your own company!

Rule your own company!

On 15th March 2014 the new Civil Code of Hungary entered into force and it replaced the former Companies’ Act. The new Civil Code posed great challenges for the legal practitioners with its radical amendments a great amount of which affect the operation of companies. To begin with the most ... Read More »

FRC guidance on strategic report

FRC guidance on strategic report

On 9th June 2014, the UK Financial Reporting Counsel (FRC) published their ‘Guidance on the Strategic Report’ (Guidance). The Guidance replaces the ‘Reporting Statement: Operating and Financial Review’ published by Accounting Standards Board. The Guidance is persuasive rather than mandatory and its objectives are to: ensure that relevant information that ... Read More »

Is a loan agreement a debenture?

Is a loan agreement a debenture?

The City of London Law Society (CLLS) recently sent a letter to HM Treasury regarding the England and Wales Court of Appeal decision in Fons Hf v Corporal Ltd and another as the decision may, in the view of the CLLS, have “serious implications for regulated and unregulated lenders, borrowers ... Read More »

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