QLD Will Conversation on Facebook be Legally Binding?

[Carter Wilson]

A friend and I have been discussing a business idea and apart from the idea we haven't discussed the finer details once the company is started apart from this one brief conversation:

Me: Just to clarify, this venture is 50/50, so we split expenses, profits and company owner ship 50/50?

Friend: Yes, split right down the middle.

The conversation was in writing through Facebook messaging.

Due to no major reasons, I will be pursuing this idea on my own, however, I would like to know if that brief conversation could have possibly create a legally binding contract under contract law?

Thank you for any help,

 

[Sophea]

It depends on the nature of those exchanges - were they intended to be a final agreement between you? Or were they simply discussing or negotiating possible terms of a venture. Its difficult to determine from one line, its context in your overall relationship with this person and other discussions about the venture.

 

[Carter Wilson]

Thank you for your response Sophea.

Those exchanges weren't intended to be a final agreement it was more of a preliminary outline of how the company would be divided and intended for finer details of a final agreement to be discussed later down the track. The overall relationship is that we have been working together slowly, to get this venture running.

Generally, we have just been making enquiries, discussing how the service will look, meeting software developers etc. Apart from those exchanges, nothing in terms of how the company will be split up, who will be in charge of what area, conditions on leaving the company etc. have been discussed. We have purely just been working on minor tasks to get the venture ball rolling.