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Re: Test Case Deal?
At present this is pure speculation. We cannot foretell the outcome of the case, or even if there will be a case.
The law relating to penalties has been established through case law. The cases date back to the nineteenth century and the courts have been consistent in the way that they have ruled on penalty clauses.
If the OFT wish to change that, it would mean the making of a new law or set of laws to overturn the existing Common Law and Statute regarding penalties.
The banks have a great deal more to lose than we do which is why they were so afraid of actually defending the cases and paid out so many times in order to avoid a hearing, even at County Court level.
Now we have to wait and see what happens next.
At present this is pure speculation. We cannot foretell the outcome of the case, or even if there will be a case.
The law relating to penalties has been established through case law. The cases date back to the nineteenth century and the courts have been consistent in the way that they have ruled on penalty clauses.
If the OFT wish to change that, it would mean the making of a new law or set of laws to overturn the existing Common Law and Statute regarding penalties.
The banks have a great deal more to lose than we do which is why they were so afraid of actually defending the cases and paid out so many times in order to avoid a hearing, even at County Court level.
Now we have to wait and see what happens next.
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