You don’t have an Agreement until you do!

In a recent High Court case, Mr S alleged he had an oral agreement to buy a property from Mr G, in part because Mr G’s agent had told him this. Mr S vigorously defended his position including registering a caveat over Mr G’s property. Mr G sought to have the caveat removed on the basis he had not signed an agreement with Mr S, and as Mr G’s agent did not have authority to bind Mr G (although in certain circumstances Mr G’s auctioneer would have). The Court agreed with Mr G, and ordered that Mr S’s caveat lapse. The fundamentals of an agreement must be in place in order to obtain a legally binding agreement.

By Jude Spicer | Associate
The information contained in this article is provided for informational purposes only and should not be construed as legal advice on any subject matter.

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