Hello Mike,
Could you please explain the principle behind the term 'binding in honour only'? I do know that once that clause has been used in an agreement, it rebuts the presumption that the parties involved intend to create legal relations in a business agreement context. However, I don't know what the clause means literally or the rationale for which it renders the business agreement presumption rebuttable. Any help, pls?
Could you please explain the principle behind the term 'binding in honour only'? I do know that once that clause has been used in an agreement, it rebuts the presumption that the parties involved intend to create legal relations in a business agreement context. However, I don't know what the clause means literally or the rationale for which it renders the business agreement presumption rebuttable. Any help, pls?
