These are issues that are taken into account in many different cases and situations. In the past, courts have considered these cases in the context of different categories of agreements on the basis of Masters v. Cameron. The Supreme Court of New South Wales recently re-examined these issues in P J Leahy & Ors v A R Hill & Anor  NSWSC 6. In that case, Mr. Leahy (and his related parties) commenced proceedings against Les Dames and Ms. Hill to recover a sum he claimed for hangar repairs and arrears under a licensing agreement. What does that mean? If you reach an “agreement in principle”, you may have agreed to terms and conditions, but probably not a final and binding agreement (unless expressly stated otherwise). The end result is that an “agreement in principle” may not be applicable.