Validity of Initial Sale Contract Despite Subsequent Agreement
Synthèse Legislator
Généré par l'IAA contract for the sale of a business, which included the transfer of the goodwill and the leasehold, was deemed valid despite an earlier agreement between the parties to subsequently execute a second, more detailed contract, because the first agreement contained all the essential elements for the sale, including the object and the price, and the subsequent agreement was merely intended to formalize the transaction, not to constitute a condition precedent to the first agreement's formation.
Regeste Legislator
Généré par l'IAValidity of Initial Sale Contract Despite Subsequent Agreement: A contract for the sale of a business, which included the transfer of the goodwill and the leasehold, was deemed valid despite an earlier agreement between the parties to subsequently execute a second, more detailed contract, because the first agreement contained all the essential elements for the sale, including the object and the price, and the subsequent agreement was merely intended to formalize the transaction, not to constitute a condition precedent to the first agreement's formation.