In a recent decision, 400 George Street (Qld) Pty Ltd v. BG International Ltd  QCA 245 (400 George Street), the Queensland Court of Appeal confirmed that the facts and agreements differ on the following basis: But how can the courts determine whether something is an agreement or an act? This decision may be based on a number of considerations; However, it is important to think about the effect of the action. The nature of an act is that it is binding on the manufacturer as long as it has been signed, sealed and delivered – even if the parts have not been replaced. In this context, an act is often used by the parties: the simplest is an act a promise that is not supported by reflection. Therefore, the parties` intention to be bound by the act cannot be inferred as it would be if it were a contract. The key that distinguishes an act from a binding agreement is that a review is not necessary for an act to be binding. When asked whether a document is an act or an agreement, the courts concluded that it depended on the intent of the person executing the act to immediately initiate the document. If that were the goal, it is more likely that the court would be an act rather than an agreement. A document is a particular form of the document that indicates a person`s most sincere promise to do something to which he or she is committed. Under common law, the execution of an act must be written, sealed and delivered to the other party. You know that you have to enter into a contract, even if you are not sure that it should take the form of an “act” or an “agreement,” or even if that is what counts. Both documents are used to enter into contractual agreements, but since each can have its own advantages to do it properly, the success of a transaction can make a substantial difference.
If an act is desirable in the present circumstances, it is imperative that the instrument of facts clearly consider itself as an instrument to avoid being interpreted, for example, as an agreement. Contracting parties tend to execute documents in the form of a document in order to overcome any difficulties in the absence of consideration. However, in some cases, the parties have no choice as to what form the document should take. In addition, the facts generally allow for a longer statute of limitations to assert a right under the instrument. A contract has a six-year statute of limitations, but the time limit for an act is usually twelve years. A written agreement usually refers to an exchange between several parties, in which one party provides goods/services to another party for compensation. This “reflection” is usually monetary compensation, it can also be valuable. For some transactions, an act is required by law. For example, the court stated that the execution of the facts by a proposed tenant did not constitute a delivery, because the tenant only wanted to be bound when all the parties had executed the act, which had not been the case.