Shareholders’ Agreement: why should your company have one?

Although there is no legal requirement to have a Shareholders’ Agreement (‘SHA’), shareholders are often advised to have an agreement when starting a company with more than one shareholder. An SHA is an agreement between all or some of a company’s shareholders defining the parties’ rights and duties and how they will reach certain decisions. The following are some of the important reasons why your company should have an SHA in place: Privacy When a company is incorporated, the Articles of Association of the company are filed at Companies House,…

Terms and conditions must be clearly stated to apply

Battle of forms highlights a hard truth for company contracts Two companies who went to court in an argument over whose terms and conditions applied to a contract between them, have both lost out. The ruling from the High Court has said that neither company made enough efforts to deliver up their terms and conditions to the other side, leaving both without a leg to stand on in a dispute over a supply of rubber gaskets. The dispute arose between Transformers & Rectifiers Ltd and Needs Ltd. Needs argued that…

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