Agreement Of Nullity

Apr 8, 2021   //   by admin   //   Uncategorized  //  No Comments

On 23 November 2017, the European Court of Justice issued a judgment on the basis of Article 101, paragraph 2 of the TFUE, in which the Commission had previously accepted obligations relating to the same agreement and made it mandatory in a decision under Article 9, paragraph 1, of this Regulation. Very (…) The first instance could also have cancelled the sales contract without ordering the return of the funds already paid. The maxim “in pari causa turpitudinis ces repititio” gives judges a margin of appreciation in adapting the disadvantages of the agreement, which is null and void. Again, the first instance did not use this option (we also do not know whether it was invited to do so). In a previous contribution (in Dutch), a recent case of the Supreme Court of Belgium concerning the nullity of the sale of shares because of prohibited subsidies was examined. The case that led to the judgment of the Supreme Court of Belgium shows how the nullity sanction is cleverly designed to exploit the incentives of the parties to serve the objectives of the legislature. While the sanctioning of anti-competitive behaviour generally involves, at the administrative level, the imposition of a fine leading to increasingly serious litigation, other consequences should not be ignored at the civil law level alone. This is the case of the nullity of (…) It can be said that the beneficiary of the nullity sanction has the equivalent of an option with a strike price equivalent to the original price. In this case, the buyer had a “sell option”: the right, but not the obligation to sell the shares to the seller at the initial price. The buyer`s risk is thus eliminated. If the value is higher than the original price, the buyer will not put below the “put” option. On the other hand, if the value of the shares decreases, the buyer is better off if he transfers the shares to the seller at the original price.

In its judgment of 20 September 2017, made public on 12 December of the same year, the Court of Cassation ruled on the nullity of a contract concluded following the implementation of an illicit agreement in the banking sector, concluded after the conclusion of the (…) It should be noted that a decision worth mentioning is worth mentioning, as it again raises the question of the relationship between the law of anti-competitive behaviour and the law of ordinary contracts. In that case, a franchisee had questioned the validity of his franchise agreement (…) In the Franco-Belgian tradition, this type of symmetrical assertion of nullity is called “absolute nullity.” Most grounds of nullity result only in a “relative nullity”: only the partisan party, protected by the violated rule, can invoke the sanction (or may choose not to do so). In the case of “relative nullity,” the standing position is assigned asymmetrically. An example of “relative nullity” is the buyer who is the victim of fraud by the seller; the sale is unseated, but clearly only the buyer can claim such nullity.

 

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