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 Agreement on main points? Not necessairly a contract
01-05-2012 10:19:48

The Italian Supreme Court (no. 19106 of September 19, 2011) has rendered a judment by which it has affirmed that

The agreement on the main points of a contract does not end the negotiation's stage, because, in order to havbe a final and binding contract, it is necessary that the parties reach an agreeement on both the essential and the collateral terms, unless the parties have intended not to condition the contract to a subsequent agreement also on the accessory terms. In the latter case, taking into account the common intention of the parties, it is sufficient for the comletion of the contract, that the parties have reached an agreement on its essential terms.



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