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If you’re like many Victorians, you’ve probably dreamed of owning a pub, whether for commercial or lifestyle reasons.
There are several reasons why it might make more sense to buy an established pub rather than starting one from scratch. You get a business with an existing customer base and can
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Despite your best intentions, business relationships can deteriorate for any number of reasons.
So while it’s not a legal requirement to have a formal shareholders’ agreement, every company with more than one shareholder would be well advised to have one.
Read on to find out what a shareholder agreement is
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It can be easy to see the attraction of selling a tenanted property. You get monthly rent rolling into your bank account right up until the deal goes through – which will likely come in handy paying the mortgage down.
But having tenants in the property can add another level
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Australian businesses that sell liquor have to follow a strict set of regulations. These rules are in place for a reason – to keep patrons and staff safe. Should you not comply, you could face stiff fines or lose your licence.
To avoid this, make sure you adhere to the
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It’s not uncommon for customers to skip or gloss over a company’s terms and conditions. So you may think: “If customers don’t bother reading the fine print, why should I bother creating them?”
Well, there are good reasons not to overlook or minimise the importance of a detailed set
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It’s natural to assume that since you own your property, you can do what you like with it – subject to planning, of course. But this might not necessarily be the case, particularly if there’s a restrictive covenant hiding in the small print of your certificate of title.
What’s a restrictive
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Your building contract is an important document that you shouldn’t sign blindly. Doing so could lead to messy legal wrangles and costly project delays.
But what should you look out for in a building contract?
Here are three common questions that come up with regards to building contracts. Make sure
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As the saying goes, if something looks like a duck, swims like a duck, and quacks like a duck … then it probably is a duck.
So even if your worker signs a contractor agreement, they may still be considered an employee under Australian law.
That’s why it’s critical for
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Buying a hospitality business can be a risky venture if you don’t have all the facts or miss a crucial piece of information.
To minimise the risk, it’s important to do your due diligence. Here are five issues you need to resolve buying a hospitality business.
Has the
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What’s in a name? Well, consider Marion Robert Morrison or Norma Jeane Mortenson. Neither has quite the same ring to it as John Wayne or Marilyn Monroe, right?
And while you’re not trying to make it in Hollywood, your choice of business name matters too. That’s because a business name
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In response to COVID-19, Parliament provided temporary relief measures through an amendment in the Corporations Act 2001 (Cth) (‘Corporations Act’).
The amendment allowed electronic signatures of documents, virtual meetings, and electronic notice of those meetings. It was expected that these amendments would be extended, but now the pre-COVID requirements of
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Many contacts contain a clause, often called either a No Verbal Variations or No Oral Modifications (NOM) clause, intended to prevent future “nod and handshake” waivers of the terms of that contract, even when willingly entered into by both parties.
The intention behind such clauses is to protect both parties
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On 15 of April 2021, the Federal Court of Australia ordered two company directors to compensate their customers personally, a claim that has rarely been substantiated in Australian law. The pair were also ordered to pay a substantial fine and were disqualified from managing a company for three (3) years.
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If you’re involved in the Australian business world, you probably have already heard about the Director Identification Number scheme that is slowly coming into fruition. But what exactly is this scheme, and how does it affect directors of businesses? We’ll break down what the DIN scheme is, how it affects
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It can be a seductive idea. Rather than starting a hospitality business from scratch, why not skip the start-up stage altogether by buying into a franchise?
And it’s a business model with a long illustrious history. Albert Singer developed the first franchise contract to help him sell more sewing machines
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A rental guarantee can seem like the icing on the cake when you’re a property investor. You get guaranteed rental income for an agreed period if you can’t find a tenant for your off-the-plan apartment. What could possibly go wrong?
Unfortunately, the deal might not be quite as attractive as
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Signing the contract of sale isn’t the last stage of a home purchase. Rather, it’s the beginning of a process that only ends on settlement day. This is the day when the agreed purchase price is paid to the seller and the buyer takes legal possession of the property.
Unfortunately,
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Property in Victoria can be expensive. So one way of entering the market faster is to pool funds with family or friends. Unfortunately, things can get difficult when one co-owner wants to sell and the other doesn’t.
When this happens, can you force a sale?
The two different ways to
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Despite your best intentions, business disputes can happen – whether it’s caused by a supplier not meeting their obligations, a late payment from a client, or a disagreement with an employee or customer.
And while it can be tempting to say ‘see you in court’, no one wants a lawsuit
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Victoria boasts a world-class hospitality scene. But there’s always room for one more venue where patrons can enjoy a quick beer after work or a cheeky cocktail … or three.
However, opening a new bar, restaurant or cafe can come with a checklist as long as your arm. You don’t
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There’s about to be an important change to the Australian Consumer Law (ACL).
Since 1986, a person has been considered a ‘consumer’ under ACL if they:
Bought goods or services under $40,000 Bought goods or services normally used for personal, domestic or household use or consumption (irrespective of price)
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For many foodies, starting a restaurant, cafe or food truck is the ultimate dream. After all, what could be more satisfying than earning a living from doing what you love?
But don’t forget that many businesses require licenses before they can get off the ground in Victoria, with hospitality laws
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Your home might be your castle. But that doesn’t necessarily mean you can do whatever you want with your property.
There may be planning restrictions that set out conditions or restrictions on the use or development of your land. In Victoria, these restrictions are commonly known as a section 173
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Sometimes, suppliers will let you down, whether through supplying you with faulty products or failing to deliver their goods in time. The knock-on effects of this can be extremely disruptive to your business. So what are your legal rights when this happens?
What does the contract say?
The first step
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The end of April marked five years since pop superstar Prince died suddenly at his Paisley Park home in Minnesota. Prince left behind an estate comprising largely of intellectual property and music rights worth an estimated US$150-$300 million.
However, he died without a will so his estate still hasn’t
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No matter your age, job or background, Victoria’s planning legislation has a big impact on your life. That’s because it governs the built and natural environment around us.
Councils use the legislation to develop planning schemes that affect how land can be used and developed within your local area. These
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As a property developer in Victoria you will likely be required to navigate the process of Development Contributions. To help you navigate this system, it is essential to have an understanding of what Development Contributions are, how they work, and how and when they will apply to you.
What are