Nottingham Building Society
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Nottingham Building Society is a building society in the UK, with its headquarters in Nottingham, England. It is a member of the Building Societies Association. At December 2024, the Society had total assets of more than £5 billion.[1]
The Society was founded in 1849 by a group led by Samuel Fox (1781–1868), a Quaker and prominent local grocer.Template:Efn
The purpose of the society was to promote the construction of a better class of dwellings, suitable for the working and middle classes, as well as provide a safe and profitable place for small savings.
Nottingham Building Society was one of the first financial institutions to introduce online banking in 1983, with its 'Homelink' service on Prestel.
Branches
The society currently has 31 branches across nine counties, mainly across Nottinghamshire, but there is also a significant presence in Leicestershire, Derbyshire and Lincolnshire.
Legal case
The society's proposed purchase of a software system faced difficulties in 1992 because of the failing financial circumstances of the system's supplier, Eurodynamics Systems. In the course of a dispute between the society and Eurodynamics regarding non-payment of a number of disputed invoices, the software contract was terminated, both parties arguing that the other was in repudiatory breach of its contractual obligations. In responding to the society's request for an interim injunction compelling the supplier to provide the software, the judge, Chadwick, J (as he then was) sought to maintain the legal path which posed "the least risk of injustice" to the parties, deciding in favour of Nottingham Building Society.[2] Reference to "the least risk of injustice" has since been made in other legal cases.[3]
Notes
References
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- ↑ RICS, Cases - Nottingham Building Society v Eurodynamics Systems, published in 1993, accessed on 6 October 2024
- ↑ England and Wales High Court (Technology and Construction Court), Lancashire Care NHS Foundation Trust & Anor v Lancashire County Council [2018] EWHC 200 (TCC), paragraph 43, delivered on 8 February 2018, accessed on 6 October 2024
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External links
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- Thames Television 'Database' Show - Homelink System Segment (1983)
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