When Does a Draft Deal Become a Binding Agreement? High Court Guidance

When Does a Draft Deal Become a Binding Agreement? High Court Guidance As any property professional will know, negotiations can be tense and it is common for various draft agreements to fly between parties without any final deal in fact having been reached. Exactly that happened in one case involving the proposed lease of a luxury central London home at a rent of £6,500 a week. Company A wished to lease the house from its owner, company B. A total of five tenancy agreements, in various forms, were drafted during negotiations and some of them were signed on behalf of one party or the other. Company A had been given…