When is a contract legally binding? Not all contracts are traditionally written and signed; therefore, it is dangerous to assume that an oral agreement is not a legally binding contract. Whether a contract contains enforceable promises or not, affects whether it is binding or non-binding. Binding vs non-binding: A non-binding contract is an agreement in … Continue reading Contract Law – QLD
Category: Commercial Law
Restraint of Trade Clause – QLD
What is a restraint of trade clause? A restraint of trade clause is generally for after an employee leaves a business. It can be enforced to the extent that when enforcing your business' interests, it is 'reasonably necessary'. When are restraint of trade clauses unreasonable? It is not uncommon for employers to include a restraint … Continue reading Restraint of Trade Clause – QLD
What is defamation? – QLD
While we all know about our rights to free speech, some things that you say or write could land you in hot water. In Queensland, there is legislation (Defamation Act 2005 (Qld) (Defamation Act)) to protect an individual's reputation from unfair personal attacks and could result in the ability to sue the person who has defamed you. … Continue reading What is defamation? – QLD
What are trade secrets? – QLD
Trade secrets are a type of intellectual property (IP). In other words, it can be one of the most critical and valuable assets of an organisation which sets it apart from competitors. For example, consider Colonel Sanders' original recipe for KFC, the top-secret Coca Cola recipe or even the Google search algorithm. These are all the … Continue reading What are trade secrets? – QLD
The Law and Limitation Periods
A strict time limit that you may not have yet heard about– a limitation period – is the time for which you are able to commence action against an individual or an organisation in a court proceeding. This ‘time’ begins from the point when the action occurs. It is imperative to identify when a cause … Continue reading The Law and Limitation Periods
What is a statutory demand?
A statutory demand is when a creditor is owed a due and payable debt greater than the minimum ($2,000). The creditor would issue a written demand to a company in a specified form along with a supporting affidavit verifying the debt. The company then has 21 days to apply to the Court to have it … Continue reading What is a statutory demand?
Shareholder’s Rights & Remedies
When you invest in a company as a shareholder, you effectively become one of the owners of the business. You get certain rights as a shareholder. This could include perks such as invitations to shareholder meetings, voting on certain issues to influence the direction of the company, or you could even receive dividends. Whatever your … Continue reading Shareholder’s Rights & Remedies
Structuring a Business in Australia
Choosing a business structure that’s right for you Each business structure serves a different purpose. Your choice of structure will depend on the size and type of business, your personal circumstances and how much you plan to grow the business. Sole traders When you run a business as a sole trader, you record the business's … Continue reading Structuring a Business in Australia
Bankruptcy Notice – QLD
Insolvency or bankruptcy – what are your options? Should you find yourself in a position where you cannot repay your debts, you may have some options to weigh up to determine the best way forward. This could include declaring bankruptcy or insolvency, however, the first step in taking control of the situation is to ask … Continue reading Bankruptcy Notice – QLD
Director Penalty Notices (DPN)
Tips to avoid the brunt of a Director Penalty Notice A Director Penalty Notice (DPN) is a way for the Australian Taxation Office to collect unpaid Pay-As-You-Go (PAYG) tax and superannuation liabilities of companies directly from directors. This means the directors are personally liable for these charges. The impacts of a DPN can be crippling … Continue reading Director Penalty Notices (DPN)
Queensland Law 