Parker & Parker

In *Parker & Parker*, Strickland J of the Family Court of Australia considered the validity of a financial agreement entered into between the applicant and the respondent on 11 November 2004. The dispute concerned whether this agreement was binding under the *Family Law Act 1975* (Cth).

The central legal issue before the court was whether the financial agreement met the requirements of s 90C of the *Family Law Act 1975* to be considered a binding financial agreement. Specifically, the court had to determine if the agreement was made in accordance with the prescribed formalities, including the provision of independent legal advice to both parties prior to its execution.

Strickland J reasoned that for a financial agreement to be binding under s 90C, it must be signed by both parties and, crucially, each party must have received independent legal advice from a solicitor regarding their rights and obligations under the agreement, or had the opportunity to obtain such advice. In this instance, the court found that the applicant had not received the requisite independent legal advice as contemplated by the Act. Consequently, the agreement failed to satisfy the statutory requirements for a binding financial agreement.

The court declared that the financial agreement between the applicant and the respondent dated 11 November 2004 was not binding within the meaning of the *Family Law Act 1975*.