BIOTECHNOLOGY AUSTRALIA P/L V. PACE (1988) 15 NSWLR 130
New South Wales Court of Appeal – 30 November 1988
Dr Pace was employed by Biotech as a senior research scientist. The letter of offer for employment provided that Biotech would “…confirm a salary package of A$36,000 per annum, a fully maintained company car and the option to participate in the company’s senior staff equity sharing scheme.”
When he was employed Dr Pace became aware that no such scheme had been established.
The staff equity sharing scheme was never established and Dr Pace eventually left the employ of Biotech. Dr Pace sued for breach of contract as Biotech had failed to provide shares under a staff equity sharing scheme.
Was the promise to Dr Pace of an option to participate in a non existent share scheme capable of being part of the employment contract?