Trading in UK Law

Leading Cases
  • Esso Petroleum Company Ltd v Harper's Garage (Stourport) Ltd
    • House of Lords
    • 23 February 1967

    As the whole doctrine of restraint of trade is based on public policy its application ought to depend less on legal niceties or theoretical possibilities than on the practical effect of a restraint in hampering that freedom which it is the policy of the law to protect.

    It was the sterilising of a man's capacity for work and not its absorption that underlay the objection to restraint of trade. This is the rationale of Young v. Timmins 148 E.R. 1446 where a brass foundry was during the contract sterilised so that it could only work for a party who might choose not to absorb its output at all but to go to other foundries, with the result that the foundry was completely at the mercy of the other party and might remain idle and unsupported.

    When a contract only ties the parties during the continuance of the contract, and the negative ties are only those which are incidental and normal to the positive commercial arrangements at which the contract aims, even though those ties exclude all dealings with others, there is no restraint of trade within the meaning of the doctrine and no question of reasonableness arises.

    This is not a mere transaction in property, nor a mere transaction between owners of property: it is essentially a trade agreement between traders. Finally the agreement is not of a character which, by the pressure of negotiation and competition, has passed into acceptance or into a balance of interest between the parties or between the parties and their customers; the solus system is both too recent and too variable for this to be said.

  • Director General of Fair Trading v First National Bank Plc
    • House of Lords
    • 25 October 2001

    Openness requires that the terms should be expressed fully, clearly and legibly, containing no concealed pitfalls or traps. Fair dealing requires that a supplier should not, whether deliberately or unconsciously, take advantage of the consumer's necessity, indigence, lack of experience, unfamiliarity with the subject matter of the contract, weak bargaining position or any other factor listed in or analogous to those listed in Schedule 2 of the regulations.

    The directive made provision for a dual system of ex casu challenges and pre-emptive or collective challenges by appropriate bodies: see article 7. This system was domestically enacted in the 1994 Regulations, with the Director General of Fair Trading as the administering official to investigate and take action on complaints: see regulation 8. The 1999 Regulations extended the system of enforcement by including other bodies as qualified to undertake pre-emptive challenges.

  • Petrofina (Gt. Britain) Ltd v Martin
    • Court of Appeal
    • 17 December 1965

    A contract in restraint of trade is one in which a party (the covenanter) agrees with any other party (the covenantee) to restrict his liberty in the future to carry on trade with other persons not parties to the contract in such manner as he chooses.

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Books & Journal Articles
  • Insider trading – unsolved issues
    • No. 26-3, July 2019
    • Journal of Financial Crime
    • 786-792
    Purpose: This paper aims to show that, despite the development of prevention mechanisms for banks, undetected insider trading remains highly feasible. It, thereby, highlights that the current anti-...
  • Cross‐Border Insider Trading
    • No. 8-3, January 2001
    • Journal of Financial Crime
    • 254-263
    Some 40 years have now passed since the US Securities and Exchange Commission (SEC) began seriously to attack the problem of insider trading in its seminal Cady, Roberts decision. Since then, a com...
  • Trading futures.
    • No. 2007, December - September 2007
    • Financial Management (UK)
    • Fraser, Robin
    • Letters - Letter to the editor
    ...In "Forward-looking finance" (July/August), Robert Shaw recommends avoiding the Beyond Budgeting movement and the balanced scorecard. But he is misinformed about the issues that Beyond Budgeting addresses and also about the reasons why the balanced s......
  • Municipal Trading
    • No. 5-3, July 1927
    • Public Administration
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Law Firm Commentaries
  • FCA reviews commodities trading
    • JD Supra United Kingdom
    FCA has published a thematic review of commodities trading (CT) in September’s Market Watch. The review has taken place following recent changes in the structure of the CT markets. It focuses on fi...
  • UK Emissions Trading Scheme markets
    • LexBlog United Kingdom
    On 10 May 2021, the Department for Business, Energy and Industrial Strategy (BEIS) published a new webpage explaining the supply of allowances in the UK Emissions Trading Scheme (UK ETS) in the ear...
  • Covid-19: Wrongful Trading
    • JD Supra United Kingdom
    For directors of companies facing financial difficulties, the wrongful trading regime can be front of mind, given the exposure to risk of personal liability.
  • UK Publishes Proposed Emissions Trading System
    • LexBlog United Kingdom
    The proposals outline the potential new UK system after Brexit, which could be linked to the EU Emissions Trading System.  By Paul Davies and Michael Green On 1 June 2020, the UK’s Department for B...
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  • Record of evidence (Officer of a company)
    • HM Courts & Tribunals Service court and tribunal forms
    County Court forms including the N1 money claim form.
    ... ... Name and address of ... company solicitors ... Name and address of ... company accountants ... Where are the ... company trading ... records held? ... Where are the ... company’s statutory ... books held? ... Current operational status ... What is the nature of ... Is the ... ...
  • Claim form (CPR Part 8)
    • HM Courts & Tribunals Service court and tribunal forms
    Forms relating to matters raised in the Administrative Court, including challenges to decisions made by organisations such as local authorities and regulators.
    ... ... 1983 write ‘(by Mr Joe Bloggs his litigation friend)’ after ... the patient’s name ... trading under another name ... you must add the words ‘trading as’ and the trading name ... e.g. ‘Mr John Smith trading as Smith’s Groceries’ ... ...
  • sheet
    • HM Courts & Tribunals Service court and tribunal forms
    Commercial Court forms including claims and application notices.
    ... ...  agreements ...  insurance and/or reinsurance ...  oil and gas and other natural resources ...  physical commodity trading ...  professional negligence claims ...  provision of financial services ...  sale of goods ...  shipping - charter party ... ...
  • Evidence in support of application for registration for enforcement in England and Wales of a foreign judgment
    • HM Courts & Tribunals Service court and tribunal forms
    King's Bench forms for use in cases such as personal injury, negligence and breach of contract.
    ... ... (d)  I confirm that the judgment is not a judgment to which section 5 of the Protection against Trading Interests Act 1980 applies ... [(e) (where the judgment contains different provisions some but not all of which can be registered for ... ...
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