Binding Financial Agreement Act

The husband appealed Judge McNab`s decision, arguing that the agreement was not intended as a binding financial agreement. At the hearing of the husband`s appeal, Justices Kent and Austin said: «A party seeking to rectify a contract must provide clear and convincing evidence that it does not embody the final intent of the parties. To this end, the reciprocal will of the parties is the essential feature of the evidence, since there is no margin for correction of the treaty if the contrary intention is not shared. The Court will annul an agreement reached by fraud. These include the secrecy of significant assets by a party and agreements entered into to protect the interests of a creditor of one of the parties or of a third party with whom one of the parties has pending property matters. The parties must therefore be honest in their management and disclosure of assets, financial resources and values. . . .