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Contracts of employment/unjust enrichment: Bank entitled to full restitution of £250,000 bonus paid by mistake

This report relates to 1 case(s)

In Commerzbank AG v Price 21.11.03, the Court of Appeal holds that a High Court judge erred in his construction of employment documents which, properly construed, guaranteed the employee only one bonus payment for the year in question, and not the two that he had in fact been paid. The overpayment was clearly a mistake on the part of the employer, and it was entitled to restitution of it, unless the employee could establish the defence of change of position on his behalf.