Liquidated damages and penalties
What are liquidated damages? Liquidated damages is a sum of money agreed upon by parties at the time of contracting that can be recovered in the event one party breaches the contract, and the breach leads to the other party suffering loss or damage. The sum is supposed to reflect the best estimate of actual […]
Establishing a Barnes v Addy claim
Where there has been a breach of trust or fiduciary duty, the party who has suffered loss and damage may be able to pursue their claim against the party who has caused the breach; see Fraud, Business & White Collar Crime. However, the injured party may also be able to pursue their claim against third parties […]
What is the role and responsibility of a director in Australia?
The role of a company director is to govern a company on behalf of its shareholders or members. Arising from this role, and the powers that come with it, are a variety of duties that directors owe to the company. In essence, a director is bound to exercise their powers in the best interests of […]
Agency disputes: rights and responsibilities
“Agency” is a long-standing legal term referring to a situation or relationship where somebody is authorised to act on behalf of somebody else. The person authorised to act on behalf of another is commonly referred to as the “agent”, and the person the agent acts on behalf of is commonly known as the “principal”. The […]
Franchise agreements, the law, disputes and remedies
Franchise agreements are commonplace in the modern era of branding and cost-effective business arrangements. Large and small companies alike have identified the benefit of branding a product or service, manufacturing or sourcing its commodity, and marketing (the franchisor) and then selling the right to provide the service or product to another party (the franchisee). One […]
Minority shareholders
Minority shareholders in Australia have various rights and protections under Australian law – for instance, the right to be heard at company meetings. Majority shareholders often have a lot of power and influence, and in some circumstances, they may even have the ability to elect the whole board of directors and effectively control the company entirely. […]
