In that case, the parties had entered negotiations for a legally binding short form agreement, which they called the Deal Memo, which was ultimately to be replaced by detailed long form agreements. The Deal Memo stated it was not binding unless signed by all of the parties. One party signed the Deal Memo and the other didn’t. The parties were performing in accordance with the Deal Memo but subsequently, negotiations for the long form agreements broke down. One party tried to claim that the Deal Memo wasn’t binding because it hadn’t been signed. However, the Court of Appeal found that the contract had been accepted by conduct which was only consisted with being contractually bound by the Deal Memo.
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Selling your business is one of the biggest decisions a business person can make. Handing over “your baby” is always going to involve mixed emotions and a lot of considerations – not least the kind of buyer you want to take over the business. An option we have seen some clients explore is selling to a private equity investor as opposed to a more “traditional” sale.
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In an era where technology is reshaping industries, businesses are finding themselves at the crossroads of innovation and responsibility. As a forward-thinking law firm, we understand the transformative power of Generative Artificial Intelligence (A.I.) and how this can be integrated into a business and its current practices. We are also aware of the potential grey areas and pitfalls working with A.I. may have, and why it there may be a critical need for businesses to implement comprehensive A.I. policies.
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Business owners and employees alike should be prepared for what to expect when expecting in the workplace as redundancy and maternity laws are changing.
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