Morrison M.,Holman Fenwick Willan LLP
International Sugar Journal | Year: 2010
Market volatility and legal disputes often go hand in hand. a significant change in market prices can greatly alter a party's perception of the attractiveness of its contractual commitments, and cause it to reconsider the desirability of future performance. This article considers arguments typically deployed by parties looking to escape from contracts that have turned out (from their perspective at least) to be bad bargains; it assesses the merits of such arguments and shows how, by taking appropriate steps at the time of contractual formation, the prudent seller/buyer can seek to mitigate the legal risk of non-performance by its counter-party.