CBFL Seminar Series: Contractual Interpretation, Dispute Resolution Clauses and Restriction of Variation Clauses

On 26 October 2022, the Centre for Banking & Finance Law (CBFL) hosted the webinar, ‘Contractual Interpretation, Dispute Resolution Clauses and Restriction of Variation Clauses’, presented by Professor Gerard McMeel KC from the University of Reading, United Kingdom. Professor McMeel is also a leading commercial, banking and financial services lawyer at Quadrant Chambers, with over two decades experience of trial work, appellate advocacy, urgent commercial applications, arbitration, ADR and advisory work. The webinar was moderated by Associate Professor Sandra Booysen, Deputy Director of CBFL. In his webinar, Professor McMeel offered an up-to-date comprehensive study on the governing principles for interpreting contracts, from the common law perspective.

The presentation started with an overview of the applicable principles and policies for contractual interpretation. Professor McMeel observed that there had been a focus in decided cases and journal discussions on the interpretation and efficacy of particular contractual provisions. His seminar structured around the analysis of two of the most relevant contractual provisions: (1) the purposive construction of dispute resolution clauses, and (2) the efficacy of restriction of variation or waiver clauses (no oral modification). Professor McMeel enriched the presentation with a discourse on a wide array of construction of contract cases, including the UK Supreme Court decision of Rainy Sky v Kookmin Bank (2011) and Wood v Capita Insurance Services (2017).