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Words: | Submitted: Mon Jun 19 2006
... interest from a buyer: '...a mere expression of willingness to enter into negotiations which, it is hoped, will lead to the conclusion of a contract...'3. Some examples of an ITT would be a car boot sale, where none of the goods have marked prices, a market or a menu in a restaurant. Although negotiations on price may be the most common association with 'negotiation' the example of the menu demonstrates how negotiation may be on the goods themselves rather than the price. Thus a fundamental element of ITT's is - what you see is not necessarily what you may get, be it on the price or the actual goods. In addition to providing this forum for negotiation the ITT also provides an element of protection for both parties. Grainger v. Gough (Inspector of Taxes)4 and Partridge v. Crittenden5 are examples of protection being afforded to the vendor. In both cases ...
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