Question 1.1 What is the fundamental difference between an agreement and a legally binding contract? Question 1.2 Identify four contracts about which a client may seek advice from a financial services provider. Question 1.3 Lucy is a client whose tax and business matters you have dealt with for some time. She has been married for 10 years to Desi but they are currently separated whilst they consider divorce. Desi runs his own separate business. They have entered into various private agreements during the life of the marriage concerning money. Lucy wants to know under what type of circumstances would a private agreement between a husband and wife be considered contractually binding? Question 1.4 What is a 'letter of intent' and in what circumstances are such documents likely to be used? Question 1.5 In what commercial situation may a client seek a letter of comfort? What three forms may it take? What is a 'letter of comfort'? Na me a commercial situation where 'lette rs of comfort' are commonly used