Commercial Transactions Articles
Is Vendor’s Statement Necessary When Selling a Business in SA?
May 31st, 2018 by | Business Sale & Purchase, Commercial Transactions
A contract for the sale and purchase of a small business should not be completed unless a Vendor’s Statement, also known as a Form 2, has been provided to the purchaser. The Land and Business (Sale and Conveyancing) Act 1994 (“Act“) and the Land and Business (Sale and Conveyancing) Regulations 2010 (“Regulations“) set out the… Read more »
Tips for Successful Contract Negotiation
April 18th, 2018 by | Business Sale & Purchase, Commercial Transactions, Conveyancing, Franchises, Property & Leases
In most commercial transactions the parties will need to negotiate the terms before agreeing on the final details. Successful contract negotiation is not just about who has greater bargaining power – it is also about research, planning and following some well recognised guidelines. Examples of these transactions include; shareholder agreements, partnerships dissolutions, commercial leases, the sale… Read more »
Lawyers Adelaide
August 10th, 2017 by | Business Sale & Purchase, Commercial Transactions, Conveyancing, Court Disputes, Debt Collection, Deceased Estates & Inheritance Claims, Property & Leases, Wills & Estate Planning
Lawyers Adelaide Beger & Co Lawyers Adelaide provide legal services in a wide number of areas. These range through personal and business legal matters for our clients. Some of our more commonly requested legal services include: Wills and Estate Lawyers Adelaide A large part of our legal practice’s activity is acting as wills and estate… Read more »
Plain (and Clear) English Legal Documents
July 26th, 2017 by | Commercial Transactions
When a lawyer draws a Deed describing an agreement between parties and how that agreement is to be carried out, the Deed will often follow a traditional format. First, the Deed will contain “Recitals” (sometimes styled as “Background” or “Objectives”) which set out the narrative or background to the agreement contained in the Deed. The… Read more »
Minutes of Company Meeting
July 25th, 2017 by | Commercial Transactions
It is one thing to have a productive company board or committee meeting but the value is in the record that results from the meeting. The record is noted by way of “Minutes” and needs to conform to the statutory obligations as set out in section 251A of the Corporations Act 2001. Minutes are fundamentally… Read more »
Lease Term Extended by SA Court Order
May 29th, 2017 by | Commercial Transactions, Court Disputes, Property & Leases
Recently, Beger & Co Lawyers acted for commercial tenants who were being evicted by their landlord because their lease arrangements were coming to an end. Despite vigorous opposition by the landlord, our clients won a Court Order to extend their lease term so that they can stay in their shop for at least 5 years…. Read more »
Stamp Duty on SA Business Transfers Abolished
March 21st, 2017 by | Business Sale & Purchase, Commercial Transactions
Stamp Duty was abolished from all SA business transfers from 18 June 2015 but this is still (good) news for lots of people. In fact, SA stamp duty was abolished for transfers of all non-quoted marketable securities (shares in private companies), units in unit trusts and all non-real property (non-land) transfers which includes licences such… Read more »
Crazy But True: 20% Yield on ‘Pet-Friendly’ Holiday Homes in South Australia
May 22nd, 2015 by | Business Sale & Purchase, Commercial Transactions, Conveyancing, Property & Leases
When the average yield for a 3 bed house in Adelaide is around 4.5%, is it really possible to buy an average 3 bedder that grosses 15% or higher? Yes it is! But of course, there’s a unique business model behind this strategy. One of my long term clients, Melinda Mayne, bought a very ordinary… Read more »
Starting a New Business? Tax Incentives – Tick. What Else?
May 13th, 2015 by | Business Sale & Purchase, Commercial Transactions, Employment, Finance & Securities, Franchises
If you have been thinking about starting a new business, now might be a great time with the introduction of a number of significant small business incentives set out in the Federal Budget for 2015/16 announced on 12 May 2015. The tax incentives for new business start ups include: Small business tax rate cuts (the 2015/2016 tax… Read more »
Ostensible Authority
March 19th, 2015 by | Commercial Transactions, Court Disputes
Ostensible authority of an agent is imposed by the law as a way of preventing a principal from repudiating a deal instituted by someone who appeared to have authority for that principal where it would be unconscionable to a third party to do so. If a principal (P) such as a corporation, partnership or an individual uses a person… Read more »
Access to Company Records
October 31st, 2014 by | Commercial Transactions, Court Disputes
A company is a legal entity and is therefore considered for most intents and purposes as a separate ‘person’. As such, it retains rights of privacy over its financial records. However, certain persons have legal rights to such records: TYPES OF DISCLOSURE Large companies have to provide an annual report to members (shareholders). Public listed… Read more »
Illegal Contracts are Void
September 22nd, 2014 by | Commercial Transactions, Court Disputes
A Contract may be invalid for a number of technical or practical reasons but what of a contract that is completely valid according to normal contractual requirements but it is nevertheless void? This can happen with the contractual doctrine against illegality. Illegality often comes from a conflict between the terms of the contract and legislation…. Read more »
Cooling Off Rights in South Australia
September 1st, 2014 by | Business Sale & Purchase, Commercial Transactions, Conveyancing, Property & Leases
A right to “cool-off” is a contractual or statutory right which gives a party to an otherwise binding contract the right to change their mind during a certain period of time. Provided that the cooling off notice is given strictly in accordance with the relevant procedure, the contract will come to an end. Generally speaking,… 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 »
Winding up a Partnership: Considerations for the Disenchanted
December 16th, 2013 by | Business Sale & Purchase, Commercial Transactions, Court Disputes
People carrying on business in common for profit are in Partnership. It is an old and historically successful business model, although more businesses today incorporate as a limited liability corporation. The unwritten essence of a partnership is trust between partners and when trust no longer remains, the end of a partnership becomes a real possibility. A… Read more »
