A letter of intent, also known as a heads of agreement, is often used by parties before entering into a formal contract. While such a letter can be a useful tool to maintain momentum during a commercial transaction, the document itself has been the centre of many disputes over the years.
We give an overview on why parties may wish to use a letter of intent, and the downsides that could lead to business losses and commercial disappointment.
Business briefs
Employment Court rules four Uber drivers are employees; Facial recognition and the Privacy Act: balancing security and individual rights; Cartel conduct: Commerce Commission warns eight freight forwarding companies
What is the PPSR?
If you or your business leases or sells goods on credit terms, or if you have lent money to a third party, you should seriously consider registration on the PPSR in order to protect your business or yourself.
Letter of intent
A letter of intent, also known as a heads of agreement, is often used by parties before entering into a formal contract. While such a letter can be a useful tool to maintain momentum during a commercial transaction, the document itself has been the centre of many disputes over the years.
We give an overview on why parties may wish to use a letter of intent, and the downsides that could lead to business losses and commercial disappointment.
Over the fence
Increase in Recognised Seasonal Employer visas; Updates to intensive winter grazing requirements; Proposed changes to the dairy and cattle code of welfare
Protecting productive land
Over the next three years, every regional council must map any land that is designated ‘highly productive land’.
Trusts and succession
The Trusts Act 2019 imposes mandatory and default duties on trustees. We give trusties a steer on how to plan for this situation.
Property briefs
Victims of domestic violence can terminate tenancies; Body corporate rules beefed up; Buying a property with unconsented works
Vendor obligations after signing an agreement for sale and purchase
A case heard in the Supreme Court earlier this year presents a cautionary tale for property sellers.
Negative equity on your property?
Not necessarily a nightmare
Business briefs
In this article: Hiring migrant workers: What the new AEWV means for you; Changes to the Holidays Act on the horizon; FMA review of ethical investing highlights need for improvement