In deciding whether the parties to a dispute have made an agreement, the High Court of Australia in Forrest v Australian Securities and Investments Commission 2012 HCA 39 stated:

 

Regardless of the subjective intentions of the parties, the question of whether the parties had made contracts of the kinds described was to be determined by taking an objective view of the agreements?

 

Your Task:

Explain the meaning of the above assertion of the High Court of Australia. Distinguish between subjective and objective intentions? Why would the court not regard subjective intention as a more important consideration than objective intention? Your answer must refer to the relevant case law and statutory provisions?