Post by Dr Ray Carter MA, MCIPS,UK Licensed Paralegal

Creator of 10C Model, Author of Practical Contract Management, Director of DPSS Training Consultants. UK & Worldwide.

The recent ruling by the Supreme Court in King Crude Carriers SA v Ridgebury November LLC marks a significant development in contract law. The Court has clarified that when a contractual condition precedent is not fulfilled due to a breach, the appropriate remedy is typically damages, rather than automatically treating the condition as satisfied. This ruling will have implications for several areas, including: - Milestone payments - Performance-based contracts - Completion certificates - Incentive and bonus mechanisms Furthermore, this decision reinforces a strict interpretation of contractual risk allocation, emphasizing the importance of clarity in contract drafting. Our upcoming 2-day Contract Law and Drafting course will delve into this ruling and explore many other critical aspects of contract and commercial management.