This decision underscores the contrast between conditional and unconditional Letters of Offer and  firmly establishes and emphasizes that the inclusion of the phrase “subject to contract” denotes that the Letter of Offer is conditional the effect of which is that parties remain in the preliminary step in negotiations and without the execution of the formal contract,  in compliance with Section 3(3) of the Law of Contract Act, requiring the agreement to be in writing, signed, and witnessed, then no enforceable obligations arise.