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 pharm...

What are outgoings?

Outgoings are expenses incurred by the landlord arising out of its ownership of the premises.

Typical outgoings include:

• Taxes fees and charges – e.g. Council rates, water rates, land tax
• Day to day costs – e.g. cleaning, garbage collection
• Maintenance and repair services
...

We have spoken before about phoenix activity and government attempts in the past to crackdown on the illegal activity:

• New scheme to prevent subcontractor rip-offs
• Alleged misrepresentations and unconscionability in the training industry

The Federal Government is now calling for submissions f...

Workplace bullying takes place if:

• a person or group of people repeatedly act unreasonably towards a worker or a group of workers - such as victimising, humiliating, intimidating or threatening; and
• the behaviour creates a risk to health and safety.

Whether or not such behaviour is unreasonab...

No doubt you have heard about parties to court proceedings claiming “privilege” over certain documents. You may have also seen correspondence from a lawyer labelled “Subject to client legal privilege” or “Subject to legal professional privilege”.

But what does it mean?  Privilege is the right to cl...

Commercial leases typically are for a fixed initial term of, say, 3 or 5 years, with an “option to renew” period of a further 3 or 5 years.  The lease document will note the specific dates within which you must exercise your option to renew the lease.  Usually the date range falls within 3 months an...

A core element of business is the provision of goods and/or services to customers/clients for a price. And it is difficult for a business to be successful if there are difficulties with collecting that “price” from its customers, because this affects the business’ cash flow and ability to fund its o...

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 to ensure that the relatio...

Starting a new business is a big event in anyone’s life. You’ve probably had the idea for the business in the back of your mind for some time, or perhaps someone has approached you with a business idea which they would like to develop with you. So you want to make sure it is a success. Part of this ...

There are certainly a lot of advantages when buying into a franchise model; namely, that you are buying into an established brand/reputation/product/service with proven established systems and support from the franchisor.  Generally, it is considered to be less risky than establishing your own busin...

It is commonly thought that when a business is sold, particularly if it is described as being sold as a "going concern", the employees will continue to work in the business, although under a new owner.

This is not necessarily the case.

When there is a transfer in ownership of the business:

• the
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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 consider this – your bu...