Articles

A contract is an agreement between two parties that is intended to be enforceable by law. Verbal agreements are contracts that have been agreed by spoken communication.In contrast, a written contract is an agreement that is recorded in writing and is signed by the parties to evidence their agreement. There are certain types of contracts which must be in writing, and this includes contracts for buying or selling houses, or buying a car from a licensed dealer or trader.

Unfair preference claims are brought by a company's liquidator against an unsecured creditor. The liquidator's role is to ensure that the assets of the company are distributed equally between all unsecured creditors. As the name suggests, unfair preference laws prevent one creditor unfairly gaining a preference over another creditor.

The PPSR is a national register of security interests held in personal property, and was introduced under the Personal Property Securities Act 2009 (Cth) ("PPSA"). Personal property is any property other than land, and includes vehicles, art, cattle, shares, and copyright. We outline some tips to be aware of in relation to the PPSR.

Small businesses are often subject to unfair contract terms in standard form contracts as they may not have the necessary resources, power or experience to manage contract negotiations. The Federal Government has introduced legislation which will extend the unfair contract provisions currently in place for household consumers to protect small businesses. Mitchell Zadow explains.

Voluntary Administration is the process where the 'Administrator' of a company's affairs makes recommendations to the creditors about what the best course of action is to help the company repay its debuts. During this process, the Directors cease being in control of the company and its affairs. Read here for more details on the process and our tips if your company is facing insolvency or financial difficulties.

Unfortunately, there is no easy definition of what a Court would consider to be unconscionable conduct in a Lease. The Retail Leases Act sets out various factors to be considered when assessing a party's conduct. Read here for more information.

When parents are passing on their wealth to the next generation, they are often concerned that it not fall into unintended hands. Primarily, this concern relates to the potential for a child's spouse to receive a payment from the inheritance in a Family Law settlement.

If you thought that only company directors have to worry about insolvent trading, you would be wrong. Many of the duties that apply to company directors also apply to the committee members of Incorporated Associations!

The Australian Taxation Office (ATO) has recently been cracking down on certain activities of Family Trusts, particularly in relation to certain arrangements for distributing income from the Trust to beneficiaries. Some of the activities that the ATO is examining closely are "gift back" arrangements. Andre Ong explains.

There is always a fine line between the expected 'sales pitch' and a genuine representation or promise to get a Tenant over the line. Care needs to be taken when offering incentives to a Tenant and it is in the interests of both parties that all terms that are intended to be binding are included in the Lease document.

The safest course for employers is to ensure that their employee contracts contain a restraint-of-trade clause, with such restraints being fair, reasonable and legally enforceable. A well-drafted contract can protect an employer in a way that is much more efficient and cost-effective than Court proceedings!

Corporate governance is heavily regulated in Australia. A director's duty to avoid a conflict of interest was introduced to ensure that directors act in the best interests of the company. A breach of the duty to avoid any conflict of interest will have serious consequences for both the director and the company. Mitchell Zadow explains.