The existence of a joint venture agreement may be inferred from the overall conduct of the parties rather than by seeking to identify formal offer and acceptance, but the case actually pleaded and litigated constrains the findings available on appeal. A party whose credibility has been comprehensively rejected at trial faces an extremely difficult task in persuading an appellate court that documentary evidence alone compels a different finding. Late applications to amend pleadings on appeal to raise agency will be refused where the case below would have been differently conducted and the amendment would fail on the evidence led.
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