Contract – Creation of contract. On the facts, there had been a binding agreement for the sale of the defendant's fish and chips business to the claimant for £165,000. Accordingly, the Chancery Division dismissed the claimant's claim for restitution in respect of the balance of the sum paid to the defendant towards the purchase of the business, which the defendant had not repaid. The court held, in circumstances where there had been an informal agreement between the parties, that the conclusion of negotiations between solicitors of more detailed terms had not been treated by the parties as a precondition of their bargain becoming binding. Nor had the conclusion of negotiations with the landlord of the business premises for a new seven year lease been a precondition. The defendant's counterclaim for, among other things, the balance of the agreed sale price for the business, a sum repaid to the claimant under alleged duress, and the reimbursement of rent paid, succeeded in part.