Kent Solicitors

For a contract to be validly formed, one consideration is that it must be 'certain i.e. its terms clear. Against this, the Court will imply terms to give an arrangement 'business efficacy'. A recent case concerning an 'agreement' made by telephone for the purchase of debt notes explored these concepts and the arrangement was found, on the facts of this case, to be contractually binding despite a failure by the parties to agree a number of terms, including the settlement date.

Labels: Contract certainty business efficacy