Since LPLC published the first edition of Small business – big risk there have been some changes in the legal landscape which are particularly relevant to transactions for the sale of small businesses
Since LPLC published the first edition of Small business – big risk there have been some changes in the legal landscape which are particularly relevant to transactions for the sale of small businesses
The Commercial and Industrial Property Tax Reform Bill (the Bill) was introduced into the Victorian Parliament on 20 March 2024. The reforms are expected to pass into law in early May before commencing on 1 July 2024.
Significant changes to the unfair contract terms (UCT) regime in the Australian Consumer Law commenced on 9 November 2023. Almost all Australian businesses are affected by the UCT regime and should review their standard form consumer contracts and small business contracts to ensure they do not include any 'unfair contract terms'. Legal practitioners providing contractual advice are expected to be aware of and understand the changes to advise their clients. Failing to do so may result in severe consequences for clients (including substantial penalties) and expose practitioners to professional negligence claims.
Time limits most commonly missed in relation to subdivision.
Time limits most commonly missed in relation to tax.
Time limits most commonly missed in relation to bankruptcy.
Time limits most commonly missed in relation to statutory demand, a claim example and lessons learned.
Time limits most commonly missed in relation to contributions.
Time limits most commonly missed in relation to contracts.
Time limits most commonly missed in relation to appeals, a claim example and lessons learned.
Time limits most commonly missed in relation to international contracts for the sale of goods.
Time limits most commonly missed in relation to transport acccidents.
Time limits most commonly missed in relation to instruments, a claim example and lesson learned.
Time limits most commonly missed in relation to trade marks.
Time limits most commonly missed in relation to liquidation, a claim example and lessons learned.
Time limits most commonly missed in relation to caveats, a claim example and lessons learned.
The claims scenarios LPLC sees in relation to small business often arise from exuberant purchasers who have just signed up to buy their own business, full of hope and enthusiasm. They cannot wait to get into the business, want settlement in just a few days, and only need the practitioner to check the contract and make sure there are no major problems. The information in this LPLC Practice Risk Guide guide is designed to help practitioners recognise the trouble areas and manage your clients in a way that best protects the client’s interests and their own position.
This checklist is a list of links to web resources relating to property that will help you conduct research. LPLC has provided commentary under each resource to explain best how to use it.
This checklist covers the key issues you should consider when acting for the purchaser during the sale and purchase of a business.
This checklist covers the key issues you should consider when acting for the vendor during the sale and purchase of a business.
Time limits most commonly missed in relation to subdivision.
Time limits most commonly missed in relation to tax.
Time limits most commonly missed in relation to bankruptcy.
Time limits most commonly missed in relation to statutory demand, a claim example and lessons learned.
Time limits most commonly missed in relation to contributions.
Time limits most commonly missed in relation to contracts.
Time limits most commonly missed in relation to appeals, a claim example and lessons learned.
Time limits most commonly missed in relation to international contracts for the sale of goods.
Time limits most commonly missed in relation to transport acccidents.
Time limits most commonly missed in relation to instruments, a claim example and lesson learned.
Time limits most commonly missed in relation to trade marks.
Time limits most commonly missed in relation to liquidation, a claim example and lessons learned.
Time limits most commonly missed in relation to caveats, a claim example and lessons learned.
This checklist is a list of links to web resources relating to property that will help you conduct research. LPLC has provided commentary under each resource to explain best how to use it.
This checklist covers the key issues you should consider when acting for the purchaser during the sale and purchase of a business.
This checklist covers the key issues you should consider when acting for the vendor during the sale and purchase of a business.
This video looks at three things to do to help minimise your risk of a claim when acting in the sale or purchase of a small business.
In this seminar from our 2017 Risk Management Regional Tour, LPLC Risk Manager, Matthew Rose, looks at regional claims for sale and purchase of small business and advises practitioners how to avoid claims risks.
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