Acer Investment Management Ltd & Anor v The Mansion Group Ltd

Acer Investment Management Ltd & Anor v The Mansion Group Ltd

The contract was concluded on the terms of the draft attached to the 31 October 2011 email between Acer and Mansion, with no cap on override commission. The Claimants introduced GWMS to Mansion and are entitled to override commission at 0.2% on all GWMS business. There was no implied term of exclusivity or good...

Source-derived case information.

Parties
Claimant: Acer Investment Management Ltd; Claimant: Quantum Investment Management Solutions LLP; Defendant: The Mansion Group Ltd
Jurisdiction
England and Wales
Judgment Date
17 September 2014
Procedural Posture
Civil (commercial) / Judgment After Trial
Outcome
Judgment for the Claimants; quantum to be determined
Legal Topics
Implied Terms, Fiduciary Duties, Breach of Contract, Commission Agreements, Repudiation, Good Faith in Contracts
Contract Law Agency Law Implied Terms Fiduciary Duties Breach of Contract Commission Agreements Repudiation Good Faith in Contracts

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 7 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Acer Investment Management Ltd

Claimant

Quantum Investment Management Solutions LLP

Claimant

The Mansion Group Ltd

Defendant

Procedural Posture

Civil (commercial) / Judgment After Trial

Legal Issues

  1. 1 Whether the parties reached an agreement and its terms
  2. 2 Whether the Claimants introduced GWMS to Mansion
  3. 3 Whether there was a cap on override commission

Ratio Decidendi

The contract was concluded on the terms of the draft attached to the 31 October 2011 email between Acer and Mansion, with no cap on override commission. The Claimants introduced GWMS to Mansion and are entitled to override commission at 0.2% on all GWMS business. There was no implied term of exclusivity or good faith preventing the Claimants from marketing competing funds. The Claimants did not repudiate the contract, and Mansion could only terminate on proper notice. Trail commission remains payable for TC and IW.

Court Disposition

Judgment for the Claimants; quantum to be determined

Orders

  • Declaration that the contract was on the terms of the 31 October 2011 draft
  • Declaration that Acer is entitled to override commission at 0.2% on all GWMS business, uncapped