Pianta vs. National Finance and Agents  HCA 61; (1964) 180 CLR 146 (High Court) Seller and Buyer – Sale Contract – verbal agreement – specific benefit – Adequament of damages suffered Australian Woollen Mills Pty Ltd / The Commonwealth (1954) 92 CLR 424 (High Court) Training – Agreement, Reflection, Intent In this case, Wrench, the defendant offered to sell his farm to the petitioner, Hyde for $1,000. The petitioner declined the offer. The accused re-elected his offer to sell the court for $1,000 to the petitioner`s representative and stated that this was their last offer. In a letter, the petitioner offered to buy the farm for $950. The defendant refused to sell the operation at that price. The petitioner, a few days later, offered to buy the farm for an initial price of $1,000. The defendant did not reach an agreement on this matter and refused to sell the business, after which the petitioner filed a complaint for breach of contract. It was found that no contract had been entered into between the parties, as the price had not been agreed.
On the contrary, offers and counter-offers were exchanged. Contract law consists of a large number of provisions and laws adopted to enforce commitments made under certain conditions. A contract is a legally binding agreement that enforces each party`s obligations and requires it to comply with all commitments made under certain conditions to another party or party. Contracts are concluded daily by individuals and businesses. A legally binding contract can be as simple as a transaction made by buying a loaf of bread in a convenience store or as complex as a million dollars, a 100-page credit agreement between two companies. Molonglo Group (Australia) Pty Ltd v Cahill  VSCA 147 Land sale – purchase agreement – intention to be bound immediately. (Cahill`s complaint against Kiversun Pty Ltd  VSC 641) Can a promise between married parties lead to a legally binding agreement? Todd v Nicol  SASR 72 Intention – Family Contract Coal Cliffs Collieries Pty Ltd/Sijehama Pty Ltd (1991) NSWLR 1 Certainty – Negotiation Agreements This case involves the first requirement of a legally binding contract, an agreement. In this case, the applicant had auctioned off a property, subject to a reserve. The accused made an offer of $75,000, which was the highest bid. Where this offer was not accepted by the applicant (on the basis of concerns about the solvency of the defendant), the defendant asserted that a legally binding contract had been entered into when the highest bid was made.
In this case, the accused Darmodar Ghose, as a minor, was the sole owner of his property. His mother was his guardian appointed by law. A Mr. Brahmo Dutt, who was a money lender, through his agent Kedar Nath, lent Damodar Ghose a sum of 20,000 D. at 12% interest per year. The loan was taken out by the collateral of the property. On the same day that the agreement was reached, Damodar Ghose`s mother informed the complainant that Damodar was a minor, and anyone who agreed with him would do so at her own risk. Kedar Nath claimed that on the day of the execution of this act, Damodar Ghose had lied about his age, which turned out to be false. As a result, Brahmo Dutt`s complaint was dismissed and his request for restitution of 10,500 ru.