QBD 21 July 1989. This litigation arose from a decision of the defendants (M) to sell a photographic processing business which had been transferred to a company whose shares they owned. After abortive negotiations the plaintiffs (W) and a rival bidder became interested in its purchase. The rival was in fact the first in the field and was finally the successful purchaser. W claimed that M had failed to break off negotiations with the rival before opening with him and was therefore in breach of their collateral agreement and claimed for loss of opportunity to purchase. The judge held that there had been an oral agreement subject to contract for W to purchase the property and shares for £2m supported by a collateral agreement demonstrating W`s intention to enter into binding legal relations. Under this W agreed to get a comfort letter from their bank and M to call off any other negotiations. He also held that promises made by M were misrepresentations which W relied on to their detrimen