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MikeLittle.
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fizaali
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1) Domestic or social agreements:
It is presumed that there is no intention to be legally bound so the contract between any domestic and social agreements are void (as stated in the Balfour v Balfour case)2) Spouses living together:
Agreements between them are not presumed to be binding legally.3) Spouses separating:
Agreements between them are presumed to be binding legally (as stated in the Merritt v Merritt case)4) Agreement between friends:
Agreements between them are not presumed to be binding legally.5) Commercial agreements
Agreements between them are presumed to be binding legally.However, even all these agreements can be legally binding even if it is a domestic/social (or any other) context the presumption can be rebutted if the two parties mutually intended to share the prize money so they had the intention to create legal relations (as stated in Simpkins v Pays). correct?
I watched your lecture on it and this is what I understood. All of it is correct sir?
Could you please also give an example regarding commercial agreements?
MikeLittle
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I can see nothing instantly wrong with your summary
An example of a commercial agreement? What about two small private companies enter into an agreement where Company A transfers a piece of equipment to Company B in exchange for the promise from Company B to transfer an asset to Company A next month
But, when next month arrives, Company B now refuses to make the transfer of the promised asset
Is this not an example of two commercial enterprises entering into a position where it appears (to me at least) that there was intention to create legal relations. But surely this is the basis for the whole of commercial law!
OK?
fizaali
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