“…re fully, in a manner which is not irrational, arbitrary or capricious: see e.g. Socimer International Bank Ltd v Standard Bank London Ltd [2008] EWCA Civ 116, [2008] Bus LR 1304; and Braganza v BP Shipping Ltd [2015] UKSC 17, [2015] 1 WLR 1661); and (3) New York authority where a wider concept of good faith in insurance contracts appli…”
“…The reference to a “Socimer-type” implied term derives from Socimer International Bank Ltd v Standard Bank London Ltd [2008] EWCA Civ 116, [2008] Bus LR 1304. In that case, the Court of Appeal considered what, if any, limitations there are on a decision-maker’s freedom of decision when a contract allocates only to o…”