Starting a new business can be an exciting time, and one in which, during the excitement, considerations of legal and structural issues are often overlooked. This often leads to costly and time-consuming problems. To help you minimise the risk of unintended or unforeseen consequences in the future, this article sets out some of the issues you should consider before starting a new business.
Unit title developments are an increasingly common form of property ownership in New Zealand. If you are considering purchasing a unit title property, it is important that you understand how unit titles operate. This article outlines some of the important issues you will need to consider.
This article explains what the term "paper road" means, how you can find out where a "paper road" is located, and provides some information on the upkeep of "paper roads". The term "stopping of a road" is also explained.
Arbitration is often the mandatory process for resolution of disputes in commercial contracts. This article reviews the arbitration process and the advantages and disadvantages of this method of dispute resolution.
Common sense says that the first thing you should do after receiving a contract that you are being asked to sign, is to read it. You may be surprised to learn how infrequently this happens. This is especially so when the contracting parties have an established trading relationship.
Where a lease requires the tenant to obtain the landlord’s consent, the Property Law Act 2007 says that the landlord cannot ‘unreasonably’ withhold or delay that consent. Any considerations or obligations to consent set out in a lease must also be reasonable.
So you have found a business that you are interested in buying. Before you enter into the sale and purchase agreement you should complete an initial appraisal of the business. You should try to identify the business’ major strengths and weaknesses so that you can address any concerns in the sale and purchase agreement and in setting the purchase price.
In this article we consider the options a landlord has when a tenant has breached its lease. We also consider the steps a landlord is required to take in order to cancel the lease.
A guarantee is a promise from you that you (the guarantor) will meet the obligations of another party should they default in any arrangement with a third party. They are commonly used by lenders and banks.
Family trusts are often marketed as a great way to protect family assets. Although trusts can be useful, they are not ‘get-out-of-jail-free’ cards, as Mr Lightbody discovered when his trust was considered by the Supreme Court in Regal Castings Ltd v Lightbody.