Harvard Case - Sanctity of Oral Agreements: MWB Business Exchange Centres Ltd v Rock Advertising Ltd
"Sanctity of Oral Agreements: MWB Business Exchange Centres Ltd v Rock Advertising Ltd" Harvard business case study is written by Akhileshwar Pathak. It deals with the challenges in the field of Business Ethics. The case study is 11 page(s) long and it was first published on : Mar 26, 2019
At Fern Fort University, we recommend that businesses prioritize transparency and ethical decision-making in all business dealings, especially when entering into agreements. This case study highlights the importance of corporate social responsibility and business ethics in maintaining a strong company reputation and fostering trust amongst stakeholders. We recommend implementing a robust code of conduct and a clear corporate governance framework to ensure that all business interactions are conducted with integrity and fairness.
2. Background
This case study revolves around a dispute between MWB Business Exchange Centres Ltd (MWB) and Rock Advertising Ltd (Rock). Rock, a small advertising agency, entered into an oral agreement with MWB for office space. The agreement was later formalized in writing, but with a clause stating that any variation to the agreement must be in writing. Rock fell behind on payments, and MWB claimed that the oral agreement was superseded by the written one, rendering the oral agreement unenforceable. Rock, however, argued that the oral agreement was valid and that MWB had breached it by not allowing them to pay the rent in installments, as previously agreed upon orally.
The main protagonists are:
- MWB Business Exchange Centres Ltd: A company providing office space and services.
- Rock Advertising Ltd: A small advertising agency renting office space from MWB.
3. Analysis of the Case Study
This case study presents a complex legal and ethical dilemma. The key issues at play are:
- The enforceability of oral agreements: While written agreements are generally preferred for legal certainty, the case raises the question of whether oral agreements can still be legally binding.
- The impact of written variations clauses: The written agreement included a clause requiring any variations to be in writing. This clause raises questions about the extent to which oral agreements can be modified or superseded by written agreements.
- The importance of good faith and fair dealing: Rock argued that MWB had acted in bad faith by not adhering to the oral agreement, even though it was not formally documented. This raises the issue of the ethical obligations of businesses to act fairly and honestly in their dealings with others.
Framework:
The analysis can be framed using the Stakeholder Theory, which emphasizes the importance of considering the interests of all stakeholders in decision-making. In this case, the stakeholders include:
- MWB: Their interest lies in ensuring the timely payment of rent and maintaining a strong financial position.
- Rock: Their interest lies in securing affordable office space and maintaining a positive relationship with MWB.
- The Court: Their interest lies in upholding the law and ensuring fair outcomes for all parties involved.
4. Recommendations
- Implement a Clear and Transparent Contractual Framework: MWB should implement a clear and transparent contractual framework that outlines the terms of all agreements, including oral agreements. This framework should include a clear policy on the use of oral agreements and the process for formalizing them in writing.
- Develop a Robust Code of Conduct: MWB should develop a comprehensive code of conduct that emphasizes ethical decision-making, fair dealing, and transparency in all business interactions. This code should be communicated to all employees and enforced consistently.
- Embrace a Culture of Collaboration and Communication: MWB should foster a culture of open communication and collaboration with tenants. This includes actively listening to tenant concerns, being responsive to requests, and working towards mutually beneficial solutions.
- Invest in Legal Expertise: MWB should consult with legal experts to ensure that their contracts are drafted in a way that minimizes legal risks and protects their interests. This includes understanding the legal implications of oral agreements and written variations clauses.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Implementing a clear contractual framework and a robust code of conduct aligns with MWB's core values of integrity and fairness, strengthening its corporate social responsibility and company reputation.
- External customers and internal clients: These recommendations address the needs of both external customers (tenants) and internal clients (employees), promoting trust and transparency within the organization.
- Competitors: By demonstrating ethical business practices and a commitment to fairness, MWB can gain a competitive advantage in the market, attracting tenants who value these qualities.
- Attractiveness: A transparent and ethical approach to business dealings can enhance MWB's brand image, attracting investors and stakeholders who prioritize corporate governance and social responsibility.
6. Conclusion
The case of MWB v Rock highlights the importance of ethical leadership, transparency, and corporate governance in business. While oral agreements can be legally binding, businesses should prioritize written agreements to ensure clarity and minimize legal risks. By embracing a culture of ethical decision-making and fair dealing, businesses can foster trust and build strong relationships with stakeholders, ultimately contributing to a more ethical and sustainable business environment.
7. Discussion
Other alternatives not selected include:
- Ignoring the oral agreement: This would have been a legally viable option but would have damaged MWB's reputation and potentially led to future legal disputes.
- Negotiating a new written agreement: This could have been a solution, but it would have been time-consuming and potentially costly.
Key assumptions:
- The court's interpretation of the law regarding oral agreements and written variations clauses.
- MWB's willingness to implement the recommendations and commit to a culture of ethical business practices.
8. Next Steps
- Develop a comprehensive code of conduct: This should be completed within 3 months.
- Implement a clear contractual framework: This should be completed within 6 months.
- Train employees on the code of conduct and contractual framework: This should be completed within 6 months.
- Conduct regular audits to ensure compliance with the code of conduct and contractual framework: This should be conducted annually.
By taking these steps, MWB can demonstrate its commitment to ethical business practices and build a strong foundation for sustainable growth.
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Case Description
The founding principle of contracts is the freedom of the parties. The parties are free to choose their terms and follow any modality of communication, oral or written. As they can freely make a contract, they can freely modify or unmake it. Written contracts have a clause, No Oral Modification Clause (NOM Clause), precluding oral modifications of the contract. Irrespective of it, business persons make oral agreements modifying the contract, and later, dispute its validity. If the parties are free to contract, why should the oral agreement not be binding? In a NOM Clause then, ineffective? The United Kingdom Supreme Court, in MWB Business Exchange Centres Ltd v Rock Advertising Ltd, explores this fundamental question on contract law.
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