Tagged: Contract Law
Here are some issues not addressed so far (in the papers I read). (A) Quinn Insurance has a board of Directors. Sean Quinn is not on that board. The board has said nothing about the seizure of the company by the Provisional Administrators. Sean Quinn never stops talking about it and issuing press releases and public statements, including TV interviews. Is he in fact in charge of Quinn Insurance? This is possible. Under Section 27 of the Companies Act 1990:- […]
Many professionals (doctors, solicitors, dentists, architects, surveyors etc.) provide services to “consumers”.
Section 2 (1) of the Consumer Protection Act 2007 defines a consumer:
See HERE for a post on the possibility of difficulties with insurance companies. Readers might like to know of the provisions of Section 55 (3) (f) of the Consumer Protection Act 2007. It reads: “55.- (3) A trader shall not engage in any of the following commercial practices: … (d) in relation to a consumer’s claim on an insurance policy, doing either or both of the following: (i) requiring the consumer to produce documents irrelevant to the validity of the claim; […]
In the world of commerce, possession alone is insufficient to transact business; title or ownership is indispensable.
This can cause difficulty for the insured person, but more often than not, it causes profound difficulties for the insurance company.
The courts have frequently rejected arguments that claims have been settled, as purportedly evidenced by “releases” signed by Plaintiffs.
There is a problem however with most mortgage loan approvals; they do not guarantee the actual provision of the money. They are subject to conditions and the offer of finance can be withdrawn before drawdown.
The fact that the auditors in that case escaped by the skin of their teeth shows life is going to get difficult for the profession.