Tailored Terms and Conditions
Terms and conditions are the backbone of all sales, a legal document that sets out the terms on conditions on which that sale takes place. Many businesses and entrepreneurs spend hours building rapport with clients and planning websites but will copy and paste another business’ terms and conditions, edit a few names, and proceed on […]
Indigenous Business Changes
The Changing Indigenous Business Landscape In recent years there has been a dramatic increase in the number of Indigenous Australian businesses that have emerged in the Australian market. The number of Indigenous businesses has almost tripled since 2006, contributing to almost 5 billion dollars of income and employing over 45,000 people.1 As this increase in […]
Illegal Phoenix Activity
Illegal phoenix activity occurs when directors of a company leave the company or transfer the business of an existing company to a new company without paying the true value of the business. Once the assets are transferred to the new company, the old company is usually placed in liquidation. Therefore, given the company is no […]
Should I Create a Company or a Unit Trust?
When starting a business, decisions need to be made regarding the most effective business structure. Such a decision must consider the goals, nature and circumstances of the individual business. The four most common structures are sole trader, partnership, company and trust. The last two business structures will be the focus of this article. The key […]
What’s in a Name?
Soapranos laundry shop; Wok This Way noodle restaurant; Ones & Twos plumbing; Shot, Framed and Hung photography; Mid-Life Cycles motorcycle repairs; and Curl up n Dye hairdresser. These are just a few business names around town that reflect how truly creative, funny and inventive Australians can be. It seems that there is no limit on […]
What To Do When a Shell Company Sues You
In the recent case of Aquatic Air Pty Ltd v Siewert [2016] NSWCA 130 the court considered several reasons as to whether security for costs should be granted in a situation where a plaintiff may not have the funds to pay costs to the defendant. A common tactic by shell companies is to launch litigation […]
Is Limited Liability An ‘Ingenious Device’?
What Does ‘Limited Liability’ Mean? Limited liability (LL) presupposes that the debts of the company are separate from the debts of its investors and has been dubbed an ‘ingenious device’ by legal experts. This is because the company is a distinct legal personality, separate from its shareholders. The Ingenuity of Limited Liability The most compelling arguments for […]
Building and Construction Industry Security of Payment Act 2002 (VIC)
The Building and Construction Industry Security of Payment Act (BACISOPA) was first introduced in New South Wales in March 1999 and has since been adopted by the other states and territories of Australia, most recently South Australia in December 2011. The purpose of this legislation is to ensure that progress payments (which are required to […]
Amendments to the Owners Corporation Act 2006
Introduction The Owners Corporations and Other Acts Amendment Act 2021 (Vic) (Amendment Act) has been enacted. These changes will come into force on 1 December 2021. This article seeks to summarise some of the key amendments made to the Owners Corporations Act 2006 (the Act). The Five Tiers of Owners Corporations The Act previously did not differentiate […]
Lehtimaki Article
On 29 July 2020, the Supreme Court of the United Kingdom handed down its Judgment in Lehtimäki and others v Cooper [2020] UKSC 33, which confirmed that members of Charitable Companies in the United Kingdom are fiduciaries and must therefore make decisions and act in the companies’ best interests (that is, to serve the purposes […]