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A proposal for a common sales law across the 27 states of the EU to anyone opting into its terms has just been published. Does this signify a major development for businesses entering contracts throughout the EU?
In the short term, I confess, I doubt it – for one thing there already exists a voluntary piece of sales legislation to which businesses could opt-in if they wanted. I am of course referring to the United Nations Convention on Contracts for the International Sale of Goods (CISG), to which 76 countries have already signed up (with some notable exceptions such as the UK, India and Brazil).
An advantage the new EU instrument could have over the CISG however is a single supreme court (the ECJ) to determine how it should be interpreted. Over the long term we may yet all need to learn how it works alongside national contract law. I’ll certainly be watching to see how it develops.
In his 2018 Autumn Budget, the then Chancellor, Phillip Hammond, announced a significant change to the way liability for IR35 breaches will be dealt with for private sector companies from April 2020.
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The Supreme Court in Tillman v Egon Zehnder Ltd has determined that where post-termination restrictive covenants (i.e. “non-compete” clauses) in employment contracts go further than reasonably necessary to protect an employer’s business interests, it can apply the ‘blue pencil test,’ severing the offending words and leaving the remaining enforceable clause in place.
The much anticipated revision of the discount rate has arrived with the Lord Chancellor, David Gauke, announcing that it will be fixed at -0.25%.
The Hiscox Cyber Readiness report, a review of 3300 organisations, will be a stark warning for CEO’s of SME’s in the UK and in Europe.
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