Commonly, a private sale of goods is done without a written agreement (especially when the sale is between two individuals). This makes it more difficult for the buyer to rely on the seller’s representation about the goods and for the seller to claim outstanding payment from the buyer. Having a proper agreement recording the sale … Continue reading “Why sign a sale of goods agreement?”
If you have a company with multiple shareholders, it is well worth establishing a Shareholders Agreement to provide guidance to the shareholders when issues arise. For example, do you know what should happen if one shareholder wants to sell their shares? Maybe they no longer want to work in the business? Or maybe there is … Continue reading “Do I need a Shareholders Agreement?”
Unfortunately, it is not uncommon for employment relationships to turn sour. While employees have a number of options against an employer for unfair treatment and entitlements, employers have limited recourse against employees. Accordingly, employment contracts are extremely important for employers as it provides them with contractual rights to: deal with employees as required by the … Continue reading “Why have an Employment Agreement?”
If your company makes a loan to another company, this should be documented by a Loan Agreement. A Loan Agreement should state the amount of the funds advanced, the interest rate applicable, and how the loan is to be repaid. Where the borrower is a company, the lender will usually want the directors of the … Continue reading “Commercial Loan Agreement”
As we all know, a dispute over money can ruin the best of relationships. This is even (or perhaps especially!) the case between family and friends. The best way to avoid disputes when lending or borrowing money is to keep a clear record of what is agreed. This will also ensure that:- Both parties actually … Continue reading “Why record a personal loan?”
When it comes to business matters and contract law, a question we are often asked is: are verbal agreements legally binding? What is a verbal agreement? A contract is an agreement between two parties that is intended to be enforceable by law. Verbal agreements are contracts that have been agreed by spoken communication. In contrast, … Continue reading “Is a Verbal Agreement Legally Binding?”
I run my own business. Are there boundaries on the types of questions I can ask potential employees in their job interviews? The short answer is ‘yes’! When interviewing potential new employees, employers need to be careful about the questions they ask. Although you might have a legitimate reason for not giving the job to … Continue reading “Illegal Job Interview Questions to Avoid”
