Substantial evidence of parties’ contractual intent can “compensate” for certain deficiencies in the specificity requirement
Commercial, Banking and Financial
Dispute Resolution
Real Estate
Two parties to a real estate dispute signed a memorandum of understanding in preparation for a settlement agreement. The Supreme Court found that the contract is binding as the cumulative requirements of intent and specificity were met. Parties’ intent to form a binding contract which can be concluded from the existence of two main elements: […]