Use an agent or do it yourself? When you first decide to sell, it must also be decided whether you will employ an agent to advise and handle the task for you, or whether you will sell the property yourself. While it is most common to employ a real estate agent, there is no legal impediment preventing you from selling your property through private sale, or indeed conducting your own auction... more

This document outlines ten concise tips for regarding the commencement of a small business... more

The Settlor This person should be someone independent who does not benefit in any way under the Trust. Once the Settlor pays the settled sum and establishes the Trust, that person drops out of the picture. The Settlor is not liable thereafter for anything connected with the Trust... more

When contemplating a property acquisition, asset protection must be an important consideration. It is important to adopt a plan for a worst case scenario. There is a growing realisation that for many people running their own business or who are in a position of responsibility, their personal assets are highly exposed as their personal liability increases. Protecting assets includes determining the most appropriate business structure to hold your newly acquired business more

Asset protection has always been a vital consideration when contemplating purchasing a business, a property or other asset. For many people running their own business or who are in a position of responsibility, it is unwise to have their personal assets exposed. Traditionally, there have been legally accepted mechanisms for protecting such assets from the suit of creditors in a liquidation or bankruptcy more

A registered Business Name is a trading name under which you carry on a business or trade. It should be as distinctive as possible to prevent creating any confusion to the public more

This table compares the advantages and disadvantages of various business structures more

When purchasing or commencing a business, it is necessary to determine the most appropriate type of structure to put in place, taking into account, taxation and legal implications. This article deals with certain legal implications relating to the most common business structures, being a Sole Proprietorship, a Partnership, a Company or a Trust (whether Discretionary or Unit) more

Why do you need a Buy and Sell Agreement? In any business with more than one owner, it is important that the proprietors ensure that the death, permanent disability, trauma (heart attack or stroke), retirement, conviction of serious crime or marriage breakdown of one of the owners does not result in a continuing party finding himself working with a partner of another owner or at worst, a dissolution of the business more

The purchase or sale of any business can be the culmination of dreams and may affect your life for many years. When involved in such a transaction it is essential that parties are aware of all relevant issues to avoid unnecessary stress and financial and legal trouble. If purchasing, a business plan and the structure of ownership is vital to your success. This article aims to briefly address some prevalent issues and common problems which may stem from buying and selling a business more

This article looks at contract law such as contracts, agreement, implied terms and damages more

A summary of statutory and common law directors' duties more

Buying, extending, renewing, or selling any Franchise will affect your life for future years. Parties must be aware of legal issues involved in such a transaction and recognise that both Franchisees and Franchisors have justifiable business interests to protect. Franchisors must know what they are selling and a potential Franchisee must know what they are buying. A Franchisor must also determine the most advantageous structure of ownership to operate the business. This article aims to address some prevalent issues and common problems relating to Franchising more

Franchise disclosure requirements apply when buying, extending, renewing or selling any Franchise. Parties, especially an incoming Franchisee, must be privy to all relevant information relating to the Franchise and know what they are buying. One key document contributing to a Franchisee making an informed decision based on accurate information is a Disclosure Statement more

A Lease is a contract between a property owner and a person wanting temporary enjoyment and use of the property, in exchange for paying rent to the property owner. Where the property is land, a building, or parts of either, the property owner is called a Landlord and the person that contracts to receive the temporary enjoyment and use is called a Tenant more

What is a Power of Attorney? A Power of Attorney is a document whereby one person lets another person act on his or her behalf. A Power of Attorney is often used when the giver is unable to sign himself, whether for reasons of being absent geographically, incapacity or otherwise more

What is a Caveat? A Caveat is a means by which a Certificate of Title (Title) at the Land Titles Office can be "marked" to show that someone has an interest in the property. A Caveat is a document lodged at the Land Titles Office to protect the rights of a person who claims to have an interest in the land. The Caveat itself does not create anything, nor does it initiate any rights not already in existence more

Why is a Deposit paid? When a Purchaser buys a property a deposit is paid by the Purchaser as a part payment towards the purchase price and as a commitment to proceeding with a transaction. This is usually paid when the Contract is signed by both the Vendor and Purchaser more

What is Retention of Title? A Retention of Title Clause may be found in a well drafted contract for the supply of goods. Such a provision allows a seller to delay passing title or ownership to the buyer until a specific condition is fulfilled, usually the full payment for the goods, despite the goods being in possession of the buyer more

What is a Shareholders' Agreement? A Shareholders' Agreement is an essential document whenever there are two or more Shareholders in a private Company. Anyone who has experienced disputes, restructures, expansion or dissolution will know the importance of such an Agreement more

What is a Sub-Lease? A Lease is a contract between a property owner and a person wanting temporary enjoyment and use of the property, in exchange for paying rent to the property owner. Where the property is land, a building, or parts of either, the property owner is called a Landlord and the person that contracts to receive the temporary enjoyment and use is called a Tenant more

What is a Trade Mark? Trade Marks are signs used to distinguish goods or services provided in the course of trade. They associate a business with goods and/or services that bear a particular sign. This may indicate things such as the characteristics of the goods and/or services. Those wanting protections must apply to IP Australia, which is a government body more

A Trust is a fiduciary relationship where a person holds the title of property for the benefit of another more

What is a Will? A Will is a legal document which allows you to choose who receives your belongings and assets after you die. It allows you to nominate who will be responsible for managing your estate (the Executor(s)), and can also be used to appoint a guardian to look after children in their minority more