The respondents had been awarded judgment for payment of their fees in securing a purchaser of the appellants business. Two bidders were in place. One sought exclusivity before incurring the costs of acquisition. A contract race was suggested provided the vendor underwrote the first part of the bidder’s due diligence costs. An offer was made, but the parties differed according as to whether it was payable if the bid failed.
Held: The relevant letter was to be construed as an invitation and an offer to pay the costs, and was not conditional upon contracts being ready to be signed by a certain date. Appeal dismissed.
Judges:
Lord Justice Waller, Lord Justice Rix, And, Mr Justice Wilson
Citations:
[2002] EWCA Civ 128
Links:
Jurisdiction:
England and Wales
Contract
Updated: 27 June 2022; Ref: scu.167636
