Facts of the case:

Scientists at Tasmanian Agricultural Research (TAR) hope to develop a vaccine to prevent viruses being transmitted from humans to sheep. The industry has been suffering from COVID-19 type viruses infecting livestock herds. To assist their research, they want to conduct research on sheep and other livestock.

Steve and Kate Arnott are sheep farmers on a property near Richmond, Tasmania, with Steve responsible for its day-to-day operations. Due to recent virus transmissions, stock prices have fallen and Steve and Kate are wondering what they should do with their land and sheep. They decide to lease to TAR four acres of land for five years. This land would be used to house the sheep on which the new vaccine is being tested.

Steve and Kate agree to sign a contract prepared by TAR's lawyers.

The contract gives TAR exclusive use of the four designated acres of land. In turn, TAR promises to use the land only for agricultural research purposes, and not for making profit. TAR will pay $10 per year to Steve and Kate for the right to use the land over the five years. TAR will also acknowledge Steve and Kate by naming any successful vaccines after them.

One year into the contract, prices for wool and meat have risen dramatically. Steve and Kate would like to end the contract and take their land back. They believe there was not really a contract with TAR, since the rent was only $10 per year, which indicates a simple friendly arrangement rather than a binding contract.

Steve and Kate need advice as to whether they can claim there was no contract with TAR?

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