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Are Penalty Clauses in Contracts Enforceable?
A penalty clause is a term in a contract that imposes a penalty on a party that breaches a contractual obligation. It is important to know that penalty clauses are generally unenforceable under Australian law. However, it can sometimes be difficult to distinguish...
Dying Intestate – The Perils of Not Making a Will
A valid Will determines how your estate is dealt with after you die. Your Will can appoint an appropriate family member, trusted friend or professional to administer your estate (your executor), nominate guardians for young children, determine who will receive your...
Heads of Agreement – key terms and considerations
A “Heads of Agreement” is one of those legal terms that you may come across for the first time and find yourself doing a quick Google search of. To make things more confusing, the term is sometimes used interchangeably with terms such as “Letters of Intent” or...
The Importance of Estate Planning Before Capacity is an Issue
We should all plan for our future. Certainly, we should all have a current will, especially those of us who need to make special arrangements for the care of children or pets. Many of us would also benefit from making a formal arrangement to account for a time when we...
Buying a business? Some handy hints…
So you have found a business and you have your heart set on buying it. Congratulations, that’s great news! However, before you rush off to purchase the business you need to be aware of some important steps to consider. Step 1 – Is this business right for you? Not...