This Week

Is this a case of breach of contract?

“Be greedy when others are fearful” – Warren Buffett. Will he be proven right?

Another reason for Mike Ashley to sell Newcastle FC. The risks of short-selling.

Is this insider trading?

Ireland is now in recession. A recession is defined as two consectutive quarters of negative economic growth. In the first half of 2008, Ireland’s GDP declined by 1% and GNP by 2.1%. Ireland is first country in the Eurozone 15 to go into recession. Read more>

Bono and Bob Geldof are in New York this week lobbying world leaders at the UN on the need to deal with the issues affecting Africa  – debt, aid and trade. Bono and Geldof are co-founders of the One Campaign, a highly influential pressure group. Bono is blogging this week from New York. Read his blog>

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10 Responses to “This Week”


  1. 1 BullMarket1992 September 25, 2008 at 9:16 pm

    The newcastle fans should have more sense, they have an owner who has the clubs best interest in mind, not like other owners who add football clubs to their portfolio like a child adds toys to a pram. I think they’re just looking for someone to blame for their dismal run of results. And as for his 300mil loss, id like to know where the Daily Mail gets its figures and how credible they actually are.

  2. 2 Daragh September 26, 2008 at 4:58 pm

    I belive paddy power did breach the contract between them and their customers.They had on display an invitation to treat Ie,a invitation for the customer to make an offer which is not illigal.
    When the punters went to the desk and gave the betting slip this was the offer, it was then accepted when the money was cashed in and the recipt was given to the punter.

    A contract was made between the punter and paddy power which means if one party breachs a part of the contract(paddy power) action can be taken from the party who was affected by the breach(the punters).

  3. 3 Joe September 26, 2008 at 5:52 pm

    To my knowledge this is a breach of contract, I am nearly certain that the second the game starts, the contract must end.
    I believe that the situation should have been taken up and brought to court as this is such a breach of condition that it can be heard from a court.

    No doubt the bookies were in the wrong, There is no evidence to suggest else what.

    my point being, Its a Breach of Condition and is somewhat wrong, Not just to the holders but to the people that booked a bet before the match started.
    Odds clearly would not have been the same

  4. 4 Donal September 26, 2008 at 7:41 pm

    i think they breached a contract because they never took down the notice that the bet is finished therefore this is misleading advertising and also the punters took advantage of this.

  5. 5 BullMarket1992 September 26, 2008 at 11:01 pm

    As harsh as it sounds, i think PaddyPowers are within their rights. I’m just after looking up their terms and conditioins and it clearly states;

    “Late Bets
    Bets are accepted up to the off-time of the event or a pre-determined time whichever the earlier. Paddy Power reserves the right to void or stand any bet inadvertently accepted after the betting has closed or where the event was resolved or at a stage where the customer could have any indication of the outcome. Should there be a dispute over the off time of an event/market where an official starting time is not given by that sports governing body, then the time that Paddy Power determines the event to have started will govern settlement of all bets.”

    source-http://www.paddypower.com/bet?action=showpage&page=help_header.html&action=showPage&showSub=14&showPage=124

    The terms are clear,”Paddy Power reserves the right to void or stand any bet…where the event was resolved or at a stage where the customer could have any indication of the outcome.”

    Simply put, by placing the bet, the punter is agreeing to the terms and conditions, and as the customer was in a position to know the outcome, it is breaking this agreement, therefore determining the bet void.

  6. 6 Benedikt September 27, 2008 at 12:04 pm

    Well I would usually have said that of course it is a breach of contract but if their conditions say that they reserve the right to void bets that have been given up too late it, of course, is no breach of contract.
    Also if there was a contract, the contract is void because you have accepted their conditions, which state that it is void if it was to late.
    -> there was a contract and it was breached, but leagaly, because of their conditions.

  7. 7 Daragh September 27, 2008 at 11:20 pm

    Paddy power have in theory breached the contract,
    but when you think back to the aer lingus dispuet with the business class flights mistakingly being sold online for €5 a person, and the fact that this went to court and aer lingus won the case aginst its customers under the grounds that -it was not a believable price and that the customers were just taking advantage of the errors made by the firm-.

    this is the same type of thing and i belive paddy power will in fact be able to keep their money in their tills for now………

  8. 8 Daniel September 28, 2008 at 6:10 pm

    I dont belive that its a breech of contract on the firms side instead I belive that Paddy Powers are well within in there rights to refuse to pay out.Due to the fact that within their conditions it is stated that if consumers have any indication of the result that the bet is voided or cancelled.
    As these customers have entered the contract ie the bet.They have agreed to all the terms and conditions which means in this situation the bet is cancelled.
    I do belive how ever that this is a case where misleading advertising could be debated. Also after reading about the case with Aer lingus that these customers may have a intresting contract to put forward to a court and who knows the outcome?
    Its a extremly stupid mistake by the firm to make and they have been punished by starting this conflict between the firm and its customers.

  9. 9 David September 28, 2008 at 7:57 pm

    No I don’t think this is a breach of contract by Paddy Power. When the customers entered into the contract with Paddy Power they agreed to the terms and conditions of the contract, which clearly state that Paddy Power reserve the right to void any bet placed where the event was resolved or at a stage where the customer could have any indication of the outcome. This could be viewed as a breach but it was the customer who breached the contract.

  10. 10 johnny October 3, 2008 at 7:24 pm

    i think that it is a good bit of fun and so far i have made $700,876
    and lost 100,345 i hope i win and im getting advice from the best shareholders in the world im very intested in doing business and im more than like likely picking it as a choice subject

    ………………………….bye


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