This Q&A can be broken down into three questions: • does a contract exist at all between the parties? • if so, what are the terms of the contract?, and • how can the contract be varied or terminated? For the purposes of this Q&A we have assumed that the contract is a business-to-business contract. The position may differ if one of the parties is a consumer. Does a contract exist at all between the parties? For any binding contract to come into force, the following key elements must be present: • offer • acceptance • consideration, and • the intention to create legal relations It is established law that a contract can come into effect in the absence of execution through the conduct of the parties. In Brogden v Metropolitan Rly Co, a contract for the provision of coal to the Metropolitan Railway Company was established even though a draft contract was produced, but never