Contract - the law of penalties - Online CPD

Package includes:

Online CPD Module  l  Booklet  l  PowerPoint Presentation

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• $121 - Non-members

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Online CPD Module

In 2015, one hundred years after the decision of the House of Lords in Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd, the UK Supreme Court re-examined and reformulated the approach to the law of penalties.

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Learning objectives

• Be familiar with the development in this area of contract law.
• Have an understanding of the practical consequences of those developments.

Booklet

Introduction

The aim of this paper is to outline the law on penalties in contract law, consider recent
changes in the law and provide some practical comment on the effect of those changes. At
the time of the Contract Law seminar in November 2015, the UK Supreme Court had just
handed down its judgments on the appeals in Makdessi v Cavendish Square Holdings BV
(“Makdessi”) and Parking Eye Ltd v Beavis ( “Parking Eye”).¹ The judgments reviewed
the doctrine of penalties at common law and reformulated the approach to the question
whether a provision in a contract should be set aside on the grounds that it is penal. As
New Zealand law has been based on the House of Lords case which was reconsidered by
the UK Supreme Court – Dunlop Pneumatic Tyre Company Ltd v New Garage and Motor
Company Limited² - the reformulation of the principles is of obvious importance and
interest.
(continued...)


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1 [2015] UKSC 67. The oral presentation at the seminars covered the Supreme Court judgments but the written material had been finalised before the judgments were given.
2 [1914] UKHL 1.

PowerPoint Presentation