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"Subject to contract" negotiations can result in binding agreements!
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What you thought were pre-contractual negotiations could amount to a binding contract regardless of your intentions, even where no formal contract has been signed. Brian Noble and Ivan Biros look at two recent cases which have found binding contracts to exist in relation to leases and sale contracts without the parties signing formal documents.
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Agreed pecuniary penalties with regulators no longer a done deal
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Regulators' practice of agreeing pecuniary penalties with businesses has been dealt a serious blow by the Full Bench of the Federal Court.
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Alert not alarmed… unfair contract term protections to be extended to small businesses
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The Commonwealth Government's plans to extend the unfair contract term protections currently afforded to consumers in standard form contracts to small businesses will have significant implications for business-to-business transactions, say Michael Corrigan, Davida Simpson and Simon Ellis.
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An exciting budget for tax … a focus on Part IVA and GST
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Last night's Federal Budget unveiled two significant tax measures aimed at multinationals – an expansion of Part IVA and expanding the operation of GST.
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Australian Red Cross honours Clayton Utz with Humanitarian Partner Award citation
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Australian Red Cross has awarded Clayton Utz a Humanitarian Partner Award citation for outstanding service to Australian Red Cross Northern Territory (Red Cross NT).
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Clayton Utz acts for Macquarie on A$79.3 million placement by GUD Holdings
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Clayton Utz has advised Macquarie Capital (Australia) Limited on GUD Holdings Limited's A$79.3 million placement to sophisticated and institutional investors. The transaction was announced to the ASX on 12 May 2015.
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Clayton Utz advising Force Equipment founders on sale to Bankstown Group
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Clayton Utz is advising the founders of Force Equipment in relation to sale of the mining services company to Bankstown Group, an entity owned by Singapore-based entrepreneur Mr George Ye, for an undisclosed sum.
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Clayton Utz celebrates Law Firm of the Year win at 2015 Australasian Law Awards
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Clayton Utz has followed its recent LIV Law Firm of the Year (more than 50 partners) award win by taking out the FTI Consulting Australian Large Law Firm of the Year award at the 2015 Australasian Law Awards in Sydney on 21 May.
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Clayton Utz launches safety and environment critical incident response app
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Clayton Utz has launched a first-of-its-kind interactive app to guide companies through the critical first 48 hours of responding to a serious safety and/or environment accident or incident.
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Clayton Utz proud to formally launch LGBTI Alliance
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Leading Australian law firm Clayton Utz has formally launched a national program to support its employees who identify as Lesbian, Gay, Bisexual, Transgender or Intersex (LGBTI).
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Dallas Buyers' Club and iiNet: orders made
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We now know the shape of the orders compelling ISPs to turn over details of customers whose ISP addresses were used to download the film Dallas Buyers Club.
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EPA revamps its works approval guideline and application process
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The revamped works approval guidelines give valuable insight into how applications are to be prepared and submitted to the EPA, say Sallyanne Everett and Penelope Ward.
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Fees and SFTs
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Determination D14-15\184 could have ramifications for future successor fund transfers.
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High Court clarifies the scope of the proportionate liability regime in the Corporations Act
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The High Court has decided that the proportionate liability regime in the Corporations Act is limited to a claim based upon misleading or deceptive conduct in relation to a financial product or services, and not to alternative causes of action arising out of the same set of circumstances.
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Keep the faith! Pitfalls to avoid when negotiating with native title parties
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Proponents of resources projects should take note, say Tosin Aro and Mark Geritz: two recent decisions of the National Native Title Tribunal provide graphic illustration of how NOT to conduct native title negotiations.
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Law Institute of Victoria names Clayton Utz Law Firm of the Year at 2015 Awards
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Clayton Utz was named Law Firm of the Year (more than 50 partners) at the 2015 Law Institute of Victoria Awards on Friday 15 May. The award recognises the firm's professional excellence, pro bono commitment and broader community involvement.
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Metadata can be personal information under privacy laws, says Privacy Commissioner
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Metadata has been held to be "personal information", in a decision that Timothy Webb and Peter Key-Matuszak says goes beyond the telecommunications sector.
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New foreign investment rules - more details announced
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The Federal Government has provided more details on the proposed changes to Australia's foreign investment laws affecting investment in residential and agricultural land, including new thresholds, fees and penalties.
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New income tax and GST rules to hit offshore multinationals
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A key requirement for the anti-avoidance rules to apply will be that a principal purpose of the scheme is to avoid a taxable presence in Australia.
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New privacy management framework to help business and government create culture of privacy
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Sharon Segal takes a look at the new privacy management framework, which sets out the Privacy Commissioner's expectations of businesses and public sector agencies in implementing a culture of privacy within their organisations.
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New surcharge for foreign buyers of Victorian residential property
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The new surcharge to apply to contracts entered into (or a relevant acquisition made) on or after 1 July 2015.
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NSW Supreme Court clarifies carriers' powers regarding use of electricity
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An important clarification of the law on carriers' rights to draw from the electricity supply within a building in which their telecommunications facilities are installed will affect carriers, building owners, managers and occupiers alike, as Damien Gardiner explains.
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One year on: the Fair Work Commission's bullying jurisdiction, key cases and lessons
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Amy Granger examines the first year of the Fair Work Commission's new powers to deal with bullying to find the lessons for employers.
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PPSA retention of title decision overturned
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The reversal of a first instance authority on the validity of a transitional security interest relying on retention of title clauses in invoices provides lessons for insolvency practitioners in assessing retention of title claims.
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Queensland Land Court's interpretation of "proceedings" scaled back
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What the Queensland Land Court can hear, and the impact of its decisions, have both changed, as Mark Geritz, Kathryn Pacey and Karen Trainor explain.
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Rebooting Queensland's planning reform: the Better Planning for Queensland Directions Paper
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The next steps in delivering planning reform for Queensland have been revealed with the release of a Government Directions Paper, Better Planning for Queensland.
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Renewable Energy Target for 2020 finally set at nearly twice the current size
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Australia's Renewable Energy Target for 2020 will be 33,000 GWhpa, after a deal was hammered out today by the Federal Government and the Opposition Labor Party – but Labor will not support including wood waste burning in the target.
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shouldthisbeallowed.au – public comment sought on the use of the .au domain space
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The new auDA Issues Paper considers whether direct registration of domain names at the second level under .au (eg. websitename.au) should be permitted, or whether the current policy permitting registration only at the third level (eg. websitename.com.au) should remain. Timothy Webb and Carmen Culina pick through the detail.
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The end of the Tael: debt trades and accrued rights under the Loan Market Association standard terms
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A major case on the meaning of the Loan Market Association Standard Terms and Conditions for Par and Distressed Trade Transactions has been watched with great interest from the beginning. Three years on, there's one further twist in the Tael, as Nicholas Poole, Peter Bowden and Talia Lirosi discover.
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Treasury proposing to bring Australia's foreign investment framework into the 21st century
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Seeking to bring the Foreign Acquisitions and Takeovers Act in line with modern practices, the Treasury has released the Modernisation Options Paper.
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When will the ACCC clear a "failing firm" transaction?
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The evidentiary burden to obtain ACCC informal clearance for a proposed merger which would otherwise substantially lessen competition is very high.
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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.