Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 7:10 pm  

Cibaman wrote:

Its just a promise. Dont think its legally binding. And I certainly havent handed over my bank details. So it remains to be seen how quickly the money will be paid

Wow. So, someone could have pledged £200 on their pay day - got caught up in a tide of emotion and in three days time might have blown their pay day and change their mind?

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 7:12 pm  

We have experience of pledging. Would hope the BoD would be factoring in 'spoof' pledges from mickey-takers

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 7:21 pm  

Mirfieldbull wrote:

On the BBC today Stewart Duffy typified the mixed messages coming out of the club - he said that we would ned the next £500k in a period of weeks or even a couple of months! Well which the hell is it! Symptomatic of how badly the whole episode has been handled!

I thought it was originally that the second 500k was 4-6 weeks after the first. Now I keep seeing that its by the end of the month? When is it needed for??

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 7:24 pm  

Mirfieldbull wrote:

On the BBC today Stewart Duffy typified the mixed messages coming out of the club - he said that we would ned the next £500k in a period of weeks or even a couple of months! Well which the hell is it! Symptomatic of how badly the whole episode has been handled!

Ryan Duckett mentioned 6 weeks to raise the second 500k on Sky sports news today.

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 8:56 pm  

Well, I'd imagine that the timescale for the 2nd 500k is dependant on how well the club is able to rearrange it's other financial commitments.

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 9:36 pm  

Cibaman wrote:

Its just a promise. Dont think its legally binding. And I certainly havent handed over my bank details. So it remains to be seen how quickly the money will be paid

Technically, it would be down to the various case law around offer and acceptance based on conditions. I personally think it would be classed as a promise to pay if they meet the conditions set in the pledge which is to raise £500k. I don't think it would be straight forward but it's pretty clear on the website etc you are pledging your money which is expected to be paid and I think that would aid bulls in viewing it as legally binding.

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 10:21 pm  

There's nothing complicated here. There is no contract, as for this, you need "consideration". As in, I pay you £3, in consideration of which you give me a pint of bitter.

I have pledged and so will pay if asked. But I have received no consideration from the Bulls so I have no legal liability to pay if I chose not to.

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 10:27 pm  

Offer, acceptance and CONSIDERATION for a contract, Liane? The consideration does not have to be "adequate", there just has to be some. If the latter is unclear, or there is none, then it has to be under deed. Not sure what the consideration in contractual terms would be, although in more general terms "still having a team to watch" might cut it? Would not want to bet the house on it though.

If it ever came to legal action, then it could well be that on balance of probabilities everyone pledging was well aware they would be expected to pay - so it could be legally binding providing a consideration could be demonstrated (hard?). But if it ever gets to that situation, we are stuffed anyway.

ps - 'Vark got in before I wrote this, and he is much better qualified to comment than me. Is it totally clear there is no consideration at all?

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 10:30 pm  

Regardless of what happens after Easter Bradford Bulls will continue to be a part of Super League.
That is all.

Re: Peter Hood says Bulls on brink of going bust. : Sat Apr 07, 2012 10:33 pm  

Adeybull wrote:

..

ps - 'Vark got in before I wrote this, and he is much better qualified to comment than me. Is it totally clear there is no consideration at all?

Yup.