W S Karoulias Sa v Drambuie Liqueur Company

I am attaching for your approval the final draft of the Agreement, which incorporates all the changes requested in your e-mail of 30 December, subject to a small amendment in 10.3.

Once you have confirmed that it is in order, I shall send two copies for signature."

By e-mail to Mr Jeffray, dated 5 February 2003, Mr Arghyrou intimated his agreement to the whole terms of the said document. An agreement ("the Third Agreement") was thereby concluded between the parties which incorporated the whole terms of the said document attached to Mr Jeffray's said e-mail of 30 January 2003"

"Explained and averred that no concluded agreement was reached between the parties regarding the final terms of the so called Third Agreement and in any event the so called Third Agreement was not signed on behalf of either of the parties. The parties did not intend to be bound by the so called Third Agreement (or any variant of it) unless and until it was signed. Consequently, the so called "Third Agreement" has never come into force and is of no effect."

"This agreement shall come into force the first day of July nineteen hundred and ninety eight and, subject to the other provisions of this agreement, shall continue in force for a period of five years from such date and thereafter and unless and until terminated by either party giving to the other not less than six months notice in writing, expiring on or after the expiry of the said five year period".