Legal Articles
Commercial Lease Negotiation Essentials – Part 2
May 11th, 2015 by | Property & Leases
Welcome to Part 2 of my “Commercial Lease Negotiation Essentials” which looks at some other things that landlords and tenants should consider before signing an Agreement to Lease. Lease terms are important to landlords for a number of reasons including that the value of the property will is directly related to the strength of the… Read more »
Commercial Lease Negotiation Essentials – Part 1
May 8th, 2015 by | Property & Leases
Unfortunately, as lawyers, we are usually asked to prepare or advise on Commercial Leases, Director Guarantees and Disclosure Statements after lease negotiations are complete and the parties have already committed to an Agreement to Lease (which is generally binding irrespective of whether a final lease is executed). We can add significantly more value during (or preferably… Read more »
Commercial Lease Advice Vital for Tenants
November 22nd, 2014 by | Business Sale & Purchase, Property & Leases
Unfortunately, in the rush to start a new business or enter a franchise, many clients seek advice after they have already signed an ‘Agreement to Lease’ or ‘Lease Proposal’. These documents are often binding and not capable of further negotiation! It is vital to receive independent legal advice before signing anything. The reasons documents are… Read more »
Independent Legal Advice Before Buying a Franchise Business
September 21st, 2014 by | Franchises
Prospective franchisees are often overwhelmed with a mountain of paperwork including the disclosure document, franchise agreement, Franchising Code of Conduct (“the Code”), property and equipment leases, loan and security documentation. The Code requires that before a franchise agreement is entered into the franchisor must receive from the franchisee a signed statement that the franchisee has received independent… Read more »
Advance Care Directives
July 9th, 2014 by | Wills & Estate Planning
The Advance Care Directives Act, 2013 (SA) came into operation on 1 July 2014. The Act allows adults to make legally binding arrangements for their future health care, end of life wishes, living arrangements and other lifestyle matters by appointing one or more Substitute Decision Makers in an Advance Care Directive (“ACD”) Form. Enduring Powers… Read more »
Concurrent Lease Used To Sell Right to Property Income
March 10th, 2014 by | Commercial Transactions, Property & Leases
There are a number of reasons why one may want to sell or transfer the right to receive rental income from a leased property. They include: (1) The desire to convert the future rental payments into an upfront capital amount by selling the right to receive rental income; (2) estate planning purposes and the desire… Read more »
Caveatable Interests in South Australia
September 10th, 2013 by | Conveyancing, Property & Leases
Only legal or equitable interests in land are caveatable. Other contractual obligations, such as debts do not sustain a caveat. Even where land is involved, it can be difficult to work out what constitutes a caveatable interest. To learn more about caveatable interests and where they apply, keep reading. And if you have any questions,… Read more »
Terms of Trade Are Fundamental To Good Debtor Control
August 30th, 2013 by | Commercial Transactions, Debt Collection
All businesses should have well written terms of trade. It is just as important to make sure that they form part of your contract. Notwithstanding that you have good terms of trade, they will do little to help in a Court dispute if they were first presented after the contract was formed. Good debtor… Read more »
Business Purchase Checklist
July 30th, 2013 by | Business Sale & Purchase
Most people that find the right business want to sign the contract and settle as soon as possible. This approach can often lead to costly mistakes that could easily be avoided by going through a checklist and obtaining relevant advice. Before signing a contract to purchase a business, consideration should be given to: undertaking an… Read more »
How to Create a Loan Agreement Between Family Members or Friends
June 17th, 2013 by | Finance & Securities
If you have decided to ignore the well known advice of “don’t lend money to family or friends”, there are some very good reasons why you should create a legally binding, written agreement. This loan agreement between family members/friends and you, should outline a repayment schedule and what will happen if the borrower is late… Read more »
Asset Protection for Directors Now Even More Important
November 26th, 2012 by | Commercial Transactions
Personal liability of directors for unpaid superannuation and PAYG taxes has been extended by virtue of recent amendments to the Income Tax Assessment Act 1997. The law now extends a director’s liability to unpaid employee superannuation and may not protect a director who puts a company into administration. The Australian Taxation Office now has the… Read more »
Duties of an Executor
November 24th, 2012 by | Deceased Estates & Inheritance Claims, Wills & Estate Planning
An executor is the person(s) or organisation chosen to carry out the terms of a will. The executor is responsible for the administration and control of a deceased estate until the final distribution of assets is made to the beneficiaries. The executor must first locate the deceased’s last will and contact the beneficiaries as soon… Read more »
Good Due Diligence Helps Avoid a Lemon
October 5th, 2012 by | Business Sale & Purchase, Commercial Transactions, Conveyancing, Franchises, Property & Leases
We may still be disappointed when a due diligence exercise reveals what a mistake the purchase of a particular property or business would have been. It can be difficult to overcome the excitement and anticipation of a new home, investment or business, even though your lawyer shows you that you may have just “dodged a… Read more »
Are Shareholder & Partnership Agreements Really Necessary?
October 5th, 2012 by | Business Sale & Purchase, Commercial Transactions, Franchises, Wills & Estate Planning
Starting a business can be an exciting and rewarding experience. It can also quickly become a nightmare (even if the business is successful). Often it is difficult for an individual to find the finance necessary to start a business and so people look for partners. A partner can also bring to the business skills and… Read more »
Before You Sign a Building Contract
October 5th, 2012 by | Commercial Transactions, Conveyancing, Property & Leases
We have significant experience in advising our clients on their rights and obligations under domestic and commercial building contracts, and residential “house and land” package deals. In South Australia a domestic building work contract can be cancelled if you take action to “cool-off” before the “prescribed time”. This is not a step that should be… Read more »
