Aussie Player Exodus
- Thread starter swingpass
- Start date
There's a fair amount of case law relating to this. Basically, some letters of intent are found to be binding whilst others aren't.
At the very least it's complex and comes down to the facts in each situation as well as the conduct of the parties before and after the letter of intent is signed.
If enough of those details are clear in a letter of intent it will be binding because it is considered a contract.
At the very least it's complex and comes down to the facts in each situation as well as the conduct of the parties before and after the letter of intent is signed.
If enough of those details are clear in a letter of intent it will be binding because it is considered a contract.
T
Train Without a Station
Guest
Yeah BH I've done some research and come across that.
There's some good information here:
http://www.franciswilksandjones.co.uk/site/fwjsays/businessmoney/letter_of_intent.html
Generally those that have been considered contract contain all the terms and the consideration is defined, so it's not exactly a letter of intent, it's a contract by law.
There's some good information here:
http://www.franciswilksandjones.co.uk/site/fwjsays/businessmoney/letter_of_intent.html
Generally those that have been considered contract contain all the terms and the consideration is defined, so it's not exactly a letter of intent, it's a contract by law.
That's pretty much it. Just because you call something a letter of intent doesn't mean that it's not a contract.
Likewise, a contract document might not actually be enforceable if it doesn't fulfil all the requirements to make it a legally enforceable contract.
I.e. it all comes down to the substance of the document, not what they called it.
Dctarget
Tim Horan (67)
I think you'd be surprised by how many people on GAGR work in or around the world of law.
And as a matter of fact I have my contract law exam on Friday, so you'd really hope I know something about it.
BDA
Jim Lenehan (48)
I've been involved in a few pieces of litigation whereby it was argued that a letter of intent or "heads of agreement" document was a binding contract. Both were relating to large Commercial Leases. Whether a letter of intent / heads of agreement is binding generally depends on:-
1. the intention of the parties (this usually comes down to an assessment of all of the dealings between the parties) and
2.whether the terms of the agreement are sufficiently certain. (the reason most letters of intent wont be binding is that they do not include all terms and conditions that will ultimately be agreed to in a contract).
Also, French law is surprisingly different to our law in many areas. No idea how their contract law compares to ours
.
1. the intention of the parties (this usually comes down to an assessment of all of the dealings between the parties) and
2.whether the terms of the agreement are sufficiently certain. (the reason most letters of intent wont be binding is that they do not include all terms and conditions that will ultimately be agreed to in a contract).
Also, French law is surprisingly different to our law in many areas. No idea how their contract law compares to ours
.
T
Train Without a Station
Guest
I think we can all agree it's come down to point number 2 BDA.
If it's actually a letter of intent (not the title, the actual content) then it cannot be binding, as the terms are not certain.
If the terms are certain, he's signed a contract.
If it's actually a letter of intent (not the title, the actual content) then it cannot be binding, as the terms are not certain.
If the terms are certain, he's signed a contract.
Viking
Mark Ella (57)
As part of my commerce degree I study a couple of units of law, mainly covering contract law. Doesn't make me an expert. One thing I learned about law is that it is so vast in its interpretations, i'd only trust a very experienced lawyer. And thats just Australian Law, France would certainly have many differences.
French contract law has a certain je ne sais quoi that makes it really interesting.
swingpass
Peter Sullivan (51)
oh, i dunno !
T
TOCC
Guest
Poor advice from his manager quite possibly, but it also depends on what the ARU were willing to offer at the time compared to now. Perhaps the situation has changed from a few months ago when they made the initial offer, potentially more money has been made available(new broadcast rights), or alternatively other player movements have meant Quade's stocks have risen.
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Brumby Runner
Jason Little (69)
Would have to have risen quite substantially I would think to cover the payment of the get out amount as well as to replace the likely loss of earnings from his Toulon contract which could amount to something like $250k per year.
Strewthcobber
Simon Poidevin (60)
The QRU might have had a taste of what a post-QC (Quade Cooper) future looks like in the first half of this year and it made them very nervous.
May have led to a few whispers in a few ears at the ARU contracting level
May have led to a few whispers in a few ears at the ARU contracting level
Marcelo
Ken Catchpole (46)
There is hope!
Israel Folau hints he plans to stay in rugby long term in boost to Wallabies World Cup preparations:
http://m.dailytelegraph.com.au/spor...cup-preparations/story-fni2g0wi-1227392016875
Folau is on the wish list of several NRL club and was again mentioned in French reports last week as being targeted by French giants Toulon. But while his new contract is set to include several seasons abroad, likely in Japan, Folau said he was happy in Australian rugby and appeared to rule out a switch back to rugby league.
Asked if would like to be part of rugby long-term, Folau said: "I think so. I feel like I have found my place in this game there is still a lot more to achieve as a player," Folau continued.
"I have been in the game for 3 years and I am definitely feeling comfortable in the game. We will see what happens going forward."
Israel Folau hints he plans to stay in rugby long term in boost to Wallabies World Cup preparations:
http://m.dailytelegraph.com.au/spor...cup-preparations/story-fni2g0wi-1227392016875
Folau is on the wish list of several NRL club and was again mentioned in French reports last week as being targeted by French giants Toulon. But while his new contract is set to include several seasons abroad, likely in Japan, Folau said he was happy in Australian rugby and appeared to rule out a switch back to rugby league.
Asked if would like to be part of rugby long-term, Folau said: "I think so. I feel like I have found my place in this game there is still a lot more to achieve as a player," Folau continued.
"I have been in the game for 3 years and I am definitely feeling comfortable in the game. We will see what happens going forward."
T
Train Without a Station
Guest
Folau makes $1.5M per year according to BRW.
He makes that because he's the biggest start in Australian Rugby. If he goes to NRL he will be a smaller start and therefore his profile and marketing ability will diminish somewhat as he gets crowded among the Inglis, Thurstons, etc.
Likewise if he goes to France. If he plays for Toulon he won't even be the biggest star in his team, let alone the competition.
Folau actually has a bit to lose by leaving Australian rugby.
He makes that because he's the biggest start in Australian Rugby. If he goes to NRL he will be a smaller start and therefore his profile and marketing ability will diminish somewhat as he gets crowded among the Inglis, Thurstons, etc.
Likewise if he goes to France. If he plays for Toulon he won't even be the biggest star in his team, let alone the competition.
Folau actually has a bit to lose by leaving Australian rugby.
Viking
Mark Ella (57)
Agreed, Folau is definitely the biggest drawcard in Aus rugby. Maybe Cooper the next.