Foley v Classique Coaches Ltd. [1934] 2 KB 1 is an English contract law case decided in 1934 relating to restraint of trade and forward-looking agreements to agree.
The initial judgment delivered in the High Court held that there was no "undue" restraint of trade, and this was upheld in the Court of Appeal.
The plaintiff sold some land to the defendants as a location for their motor coach business, subject to a further agreement that the defendant would buy petrol from the plaintiff.
In his speech Lord Maugham stated:It is indisputable that unless all the material terms of the contract are agreed there is no binding obligation.
An agreement to agree in the future is not a contract; nor is there a contract if a material term is neither settled nor implied by law and the document contains no machinery for ascertaining it.