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Do we have an agreement? Contract law 101
A contract is a legally binding agreement between one or more parties. These agreements set out the terms and conditions of a transaction. If a contract is properly formed, then its terms can be enforced by a court. However, not every document that is called a...
Succession Planning for Business Owners
As a business owner you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership. This...
Options to renew in commercial leases – don’t get caught out!
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is often in the interests of both...
Just sign here… ‘silent’ directors beware
If you have been asked to accept a position as a director of a company in which you have little or no involvement, think again. All too often spouses are appointed as a co-director of their partner’s company without understanding their full responsibilities as a...
Is a testamentary trust right for you?
One of the most loving things that you can do for your family is make plans for what happens after you die. This is particularly important if you have children or vulnerable adults who depend on you financially. A testamentary trust might be the right tool to help you...