non-binding contracts

When is a written agreement legally binding – Masters v Cameron revised

There seems to be a common misconception within the business community that the term ‘contract’ refers only to a formal, signed document that sets out the detailed terms of an agreement.  What people may not be aware of is that contracts are entered into every day, whether or not the parties think of them in this way. Doing something as simple as purchasing groceries from the supermarket, or entering a paid car park, usually will result in the parties entering a binding agreement even though there is no forms or signatures. In fact, there are only a few very specific types of contracts that are required to be in writing. [Read more…]

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