The United Sections of the Italian Supreme Court (Corte di Cassazione a Sezioni Unite) recently issued a remarkable ruling in relation to the validity of Italian law preliminary agreements contemplating the subsequent execution of further preliminary agreements (the so called “preliminare di preliminare”), by decision no. 4628/2015 (the “Decision”).
In particular, the Decision addresses the enforceability under Italian law of a binding arrangement whereby the parties agree, subject to certain conditions precedent, to enter into a subsequent preliminary agreement, which in turn contemplates the execution of a final agreement.
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