In a High Court case, John Magnier, a billionaire and farmer, testified about a land deal in Co Tipperary that he believed he had secured through a handshake agreement in 2023. He expressed his disappointment at being outbid and recounted a conversation with the estate agent, who attributed the failed transaction to greed. Magnier's testimony underscores the complexities and ethical dilemmas that can arise in real estate dealings, especially regarding informal agreements and the influence of market competition.
Mr Magnier asserted his longstanding connection to the land and detailed how he believed he had reached a handshake agreement with the owners, saying, "We came to an understanding, which I believed was binding, and I had every intention to follow through with it."
In describing his shock at losing the land, he mentioned, "When I reached out to understand what happened to our agreement, the estate agent’s reply was simply, 'One word, John: greed.' This struck me profoundly, it speaks volumes about the nature of property transactions now."
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