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Inside Internal Controls

News and discussion on implementing risk management

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business contracts

Contractual terms by convention: When parties fail to explicitly set contractual terms

One of the frequent issues encountered in contractual litigation is parties failing to negotiate and set to writing the contractual obligations that exist between them. So long as the parties are getting along and no questions are raised about anyone’s obligations, the lack of written contractual terms may not be an issue and convention will general dictate the parties’ interactions.

 

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International commercial arbitration in Ontario: Court intervention and public policy as a ground to set aside awards

The decision in JAG Worldwide v. Lakeside Produce demonstrates that Ontario courts continue to reaffirm the importance of respecting parties’ decisions to arbitrate their disputes, and adhere to the strict limitations of their ability to review international arbitration awards.

 

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Contract administration – beyond the handshake agreement

Unfortunately, it is not unusual for not-for-profit organizations to find they have entered into a contractual relationship that did not receive the required level of oversight, discussion and approval. Such contracts dramatically increase the risk of harm to your organization.

 

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