https://www.taxtmi.com/caselaws?id=198641 A concluded contract arises from correspondence only where the documents clearly show a meeting of minds on all material terms. Continued negotiation over essential conditions, including the standby letter of credit and performance guarantee, showed that the parties were not ad idem on the proposed charter party. On those facts, the unsigned draft never matured into a binding bargain, no enforceable agreement came into existence, and the arbitration clause in the draft charter party had no legal existence. en-us Thu, 19 Nov 1998 00:00:00 +0530 Tue, 06 Feb 2018 17:22:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198641 A concluded contract arises from correspondence only where the documents clearly show a meeting of minds on all material terms. Continued negotiation over essential conditions, including the standby letter of credit and performance guarantee, showed that the parties were not ad idem on the proposed charter party. On those facts, the unsigned draft never matured into a binding bargain, no enforceable agreement came into existence, and the arbitration clause in the draft charter party had no legal existence. Case-Laws Indian Laws Thu, 19 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198641