If a person called Elle promised another person called Pete that they were going to sell their property and give them the first opportunity to purchase it for 150000 before going to market. Then Sam sells the property to someone else before giving Pete the chance to purchase it.

Was there a legally binding contract and why?

• What necessary elements were satisfied for the contract to be legally binding and what case law supports this?
• What objective test can be applied
• What case law is relevant and explain how it applies?

Is there any defence Elle could argue that it was not legally binding?