Blog Bite: When will a term sheet be considered binding?

This article posted to our partner site discusses a case in which the Court of Queen’s Bench of Alberta found that a cover letter and term sheet between the two parties constituted a binding agreement.

The court focused on whether there was a “meeting of the minds” so as to create an enforceable contract, and used a two part test which looked at the intentions of the parties and the terms of the contract.

Written by Chris.