Question
Can the presumption that business agreements are intended to be legally binding be rebutted? Which of the following is correct? 1) A commercial agreement is
Can the presumption that business agreements are intended to be legally binding be rebutted? Which of the following is correct?
1) A commercial agreement is always enforceable, the parties intend to be legally bound once the contract is entered into, non-enforceability can only arise if the agreement is revoked
2) The parties to a business contract can expressly state that there is no intention to be legally bound under a contract, the agreement is an honourable one only
3)A business agreement may not be legally binding, but only if the parties enter into a new agreement, in writing, agreeing that the original contract is not enforceable
4)Under statute, the parties to a commercial agreement, cannot exclude an intention that a commercial agreement is legally enforceable
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