Do we have a deal?
13 September 2012
Disputes where one party denies the existence of a contract are every purchaser’s nightmare. Alan Ma explains how the courts decide whether an agreement is legally binding
Consider the situation when a buyer invites tenders for the supply of goods or services, a tender is submitted and the parties start negotiating. The main terms are discussed and agreed, but the formal niceties are left to be concluded. Then one side says the rates should be re-negotiated because there never was a contract. The other side considers otherwise and...