Business to business contracts are often "standard form contracts", meaning that one party will have a pre-drafted the contract to make it easier and simpler (and often quicker) to provide the contract to the other party, such as contracts between a supplier and its customers. ...

A Heads of Agreement (also known as a Memorandum of Understanding (MOU) or Letter of Intent (LOI)) is a document outlining the proposed agreement between the parties to it. There are a number of commercial situations where a Heads of Agreement will be commonly prepared between the parties –...

The Supreme Court made orders in 2017 regarding the winding up of a partnership that operated a real estate agency.  The two former partners agreed upon the existence and duration of their partnership, and upon a need for partnership accounts to be taken under the supervision of the Court,...

A recent Supreme Court decision (Cole v Lee [2017] NSWSC 1011) has highlighted the importance of having a Partnership Agreement and following the provisions of said Agreement when looking to terminate or retire from the partnership.

Background to the matter

The plaintiff (Ms Cole) operated a...

Just because you’re friends doesn’t mean that you won’t run into problems when you open up a business together. The same applies if you go into business with family members – you still need to treat it as a commercial transaction, and put all the necessary devices in place...

Consider this – you have entered into a contract to purchase a property, but for various reasons, the property no longer suits you.  But it will suit your parents perfectly.  So can you transfer the contract over to your parents, so that your parents are the purchasers?

Also...