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This week, the case of Coleman v Mundell involved a dispute over an oral contract. The claimant, Mr C, sought specific performance of the contract, which is an order compelling a party to comply with their contractual obligations. Mr C wanted to secure a cash injection into his struggling business by receiving a loan from his friend, Mr M, secured on his shares in a Spanish entity. However, there was a disagreement between the two parties about the terms of the loan agreement. They each remembered the conversation differently, with Mr C claiming Mr M agreed to an interest-free loan of 250,000 secured on his shares, while Mr M disputed this.
