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You are employed by Events Management Ltd in the business acquisition and development department.Events Management has been going through a heavy acquisition phase over recent months. During this time you have been working closely with your departmental manager Samantha on the potential acquisition of Rigby Corporate Function Planners Pty Ltd.

As part of this process a number of emails have been exchanged between the parties which have resulted in the following key points being agreed to:

1. On the 1/02/2019 the partiesagreedto a purchase price of $750,000.
2. The owner / managing director of Rigby Corporate Function Planners willstay on in a consultative rolefor a period of 12 months, the terms of which will becontained in a separate agreement.Agreement on this was reachedon the 15/02/2019.
3. Thedate of business transitionwill be1^stJuly 2019, and
4. On the 18/01/2019the parties agreedthat all plant, equipment and staff will betransferred to Events Management on the transition date.

A number of items had yet to be agreed but discussions had taken place, these included:

1. Transition of staff leave liabilities,
2. Transfer of intellectual property, and the
3. Mechanism for informing Rigby Corporate Function Planner's major clients.

As at today's date a rough draft of a contract had been prepared by Events Management but had not been forwarded to Rigby Corporate Function Planners for review.

Samantha has just informed you via email that the Managing Director of Rigby Corporate Function Planners has just emailed to advise that they will be withdrawing from the proposed business sale. Samantha explains that your company has spent considerable time and resources on this acquisition and wants to know what legal options may exist to force the conclusion of the sale.

You are required to have memorandum of advice for Samantha to present to your company's CEO. This advice needs to consider the following:

Part A

1.You will need to address all the essential elements of a contract (including consideration) as well as analyse the legal status of each step or event that will support your analysis regarding the existence or not of a contract. Refer to relevant case law.

2.Your memorandum of advice should provide a reasoned conclusion on the status of the contract.

Part B

3.Assuming that a contract is yet to be formed, can Events Management rely the decision in Masters v Cameron (1954) 91 CLR 353 to prove that a contract exists?Your answer should refer to the three tests identified by the court and then make a reasoned conclusion concerning the likelihood of a contract between the parties existing

I'm a bit lost with which case law i should use, can you help me please