Reds 2016
- Thread starter Hugh Jarse
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liquor box
Peter Sullivan (51)
We are getting a Richard Graham Stand?
Beer Baron
Phil Hardcastle (33)
As far as I'm aware - Letter of intent can be binding if it can be shown that there is sufficient intent to contract. All depends on how the letter is written.
T
Train Without a Station
Guest
Beer Baron, it's a bit of a misleading detail from what I've looked into. A document titled a letter of intent can be binding if it has all the key defined terms of a contract, legally making it a contract.
A letter of intent is generally less defined. Key details such as length of contract and remuneration may not be defined, therefore it's not a contract.
A letter of intent is generally less defined. Key details such as length of contract and remuneration may not be defined, therefore it's not a contract.
jimmydubs
Dave Cowper (27)
It all depends on the purpose of the LOI, remuneration, contract length and key details of the contract are sometimes included. Sometimes the LOI is used instead of a contract when "yeah we want to contract with each other but only when we know that X,y & z have happened", i.e. conditions precedent, if any of those are not me it falls apart and is no longer binding. If they are all met it may well be binding. Penalties can be included on a party who backs out other than through the conditions not being met. Sometimes there is none of that and it;s just a group hug letter that says "we like each other and maybe we'll work together but only if we agree everything in a separate document (i.e. a contract later on, maybe)".
I think we'd all need need to see the instrument in question to see how binding it is, or if it's a group hugger. From my experience could be anywhere between the two extremes.
I think we'd all need need to see the instrument in question to see how binding it is, or if it's a group hugger. From my experience could be anywhere between the two extremes.
Beer Baron
Phil Hardcastle (33)
Yeah that was my understanding, that they are normally on the front of a contract with one or two things TBC (like how many shoulders will be requiring surgery before first game). Surely both parties lawyers are smart enough to not waste time with a group hugger.
What would be the benefit/motive to enter into a LOI without the key figures being agreed i.e. $ and duration - or is that case where you can spell out scenarios in a LOI (e.g. if you play in the WC you'll get this, if not - this...)
I suppose there a numerous things that could be in the TBC basket from both sides....
jimmydubs - too many more insightful posts like that and you'll be banned.
What would be the benefit/motive to enter into a LOI without the key figures being agreed i.e. $ and duration - or is that case where you can spell out scenarios in a LOI (e.g. if you play in the WC you'll get this, if not - this...)
I suppose there a numerous things that could be in the TBC basket from both sides....
jimmydubs - too many more insightful posts like that and you'll be banned.
Thinker
Darby Loudon (17)
To my knowledge the QRU held off any action against the Roar until after the Liverpool game to save any embarrassment.
This letter by Fong suggests he is about the perfect fit for either the new high-performance role or as a board member if Chris White and Tim Horan decide a current board member would be best suited to filling that role.
** Also to clarify not suggesting Squeaky won't do a good job, simply he is untried and inexperienced at International captaincy though early signs are good. 2nd most inexperienced we've had going into a RWC.
This letter by Fong suggests he is about the perfect fit for either the new high-performance role or as a board member if Chris White and Tim Horan decide a current board member would be best suited to filling that role.
** Also to clarify not suggesting Squeaky won't do a good job, simply he is untried and inexperienced at International captaincy though early signs are good. 2nd most inexperienced we've had going into a RWC.
Surely Toulon would have to prove that the ARU were knowledgeable of the specific contract Quade Cooper had with Toulon to be able to prove that they induced him to break it.
It wouldn't be enough to say that media reports said Quade Cooper was playing for Toulon next year so the ARU were aware he was contracted.
I think this is all bluff and bluster from Toulon and will be very unlikely to lead anywhere.
It wouldn't be enough to say that media reports said Quade Cooper was playing for Toulon next year so the ARU were aware he was contracted.
I think this is all bluff and bluster from Toulon and will be very unlikely to lead anywhere.
LRB
Stan Wickham (3)
Not sure if anyone else frequents kiwi websites, but here's a link to another report of RG being tipped to remain as head coach of the Reds next season.
http://www.stuff.co.nz/sport/rugby/...ntent-on-keeping-queensland-reds-coaching-job
http://www.stuff.co.nz/sport/rugby/...ntent-on-keeping-queensland-reds-coaching-job
Lance Free
Arch Winning (36)
If a Letter of Intent was binding, I guess it would be called a Contract?
T
Train Without a Station
Guest
Yep. The only possible confusion is if a document is title a "Letter of Intent" but has all the requirements of a contract, in which case it's legally a contract.
emuarse
Chilla Wilson (44)
As a business person involved in contracts, my understanding is that letter of intent is just that , and nothing more. At the time of signing it, you intend to proceed with a contract, but there is nothing binding. It's designed to enable the preparation of a contract.
At best, you might bluff the party intending to pay for legal costs to date in preparation of the contract, if you renege, but good luck unless that is a term of the Letter of Intent.
My guess is that Cooper's legal advisers have kept him abreast of advents, hence his lack of concern re Toulon.
The old adage is a goodie, "It's not over, until the fat lady sings".
dru
David Wilson (68)
My thoughts too. A "document" where you contract subject to x, y, z is something I would call an "execution deed". Completely different thing to a letter of intent.
T
Train Without a Station
Guest
well sort of, senior counsels get paid a lot of money to work through the minutiae of contract law, it gets more complicated in employment law
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