National Unfair Contract Terms Regime Update

National unfair contract terms (UCT) regime came into operation in 2010 which rendered void unfair terms in standard form consumer contracts. Further reforms were introduced in November 2023 which made such UCT’s void, but also illegal. The Competition and Consumer Act 2010 and the ASIC Act 2001 contain significant penalties for using UCTs, with each [...]

2024-06-18T00:25:34+00:00June 18th, 2024|Contracts|Comments Off on National Unfair Contract Terms Regime Update

Why Companies also need Shareholders Agreements

It is both good practice and prudent risk management to prepare and use a shareholders agreement for shareholders in proprietary limited companies. They can operate as a “rule book” for shareholders and also separate their private arrangements from the company constitution. A shareholders agreement should (subject to applicable legislation): define the rights and obligations of [...]

2024-04-02T21:56:40+00:00April 2nd, 2024|Contracts|Comments Off on Why Companies also need Shareholders Agreements

Negotiations in a sale or purchase of a business

In the early stages of negotiating a sale or purchase of a business, there are some important documents you might want to consider.   Here are our key contenders:   Heads of Agreement: This document can be drawn up when the parties reach an agreement on key commercial terms of the transaction. It can include [...]

2023-07-25T00:28:09+00:00July 25th, 2023|Contracts, Sale of Business|Comments Off on Negotiations in a sale or purchase of a business

Key Terms in an Asset Sale or Purchase Agreement

When drafting a contract for the sale of business, there are some key terms to be on the lookout for. Here's our guide to some of the most common terms you might come across: • Payment provision: The consideration and payment structure should be agreed between the parties. Your payment provision should cover whether a [...]

2023-07-10T00:05:14+00:00July 10th, 2023|Contracts, Sale of Business|Comments Off on Key Terms in an Asset Sale or Purchase Agreement
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