Reading time – 5 mins A commercial contract (Commercial Contract) is a legally binding agreement between two (2) or more parties that contains the terms and conditions for a mutual exchange of value, such as goods or services for financial compensation. This article aims to assist the reader on how to understand the contents of
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Benefits of international arbitration
International commercial arbitration offers significant benefits to businesses engaged in international transactions. It enables them to resolve disputes quicker, at a lower cost, and with greater enforceability than can normally be achieved through national Courts. The five (5) key benefits of international commercial arbitration include: greater enforceability; consistency; neutrality; procedural flexibility; and confidentiality. What is…
Arbitration clauses in international contracts
Arbitration is a private process where parties to a commercial contract agree (Arbitration Agreement) to let an arbitrator[1] (Arbitrator) make a binding decision on a dispute between them, without recourse to national Courts. The Arbitrator receives evidence, hears arguments and applies relevant law to reach a binding decision, called an award (Award). The Arbitrator’s decision…
Tortious interference with contract – injunctive relief
The wrongful or ‘tortious interference’ with a contract occurs when a third party intentionally causes a contracting party to commit a breach of contract. The third party will be liable if they intentionally induced or disrupted a party’s ability to perform the terms of a binding contract. Remedies for tortious interference are available to ensure…
Misuse of confidential information in source code
The case of Optus Networks Pty Ltd v Telstra Corporation Ltd (2010) 265 ALR 281; [2010] FCAFC 21 at paragraph 39, showed that a cause of action for a breach of confidence must have the following four (4) elements: the information in question must be identified with specificity; it must have the necessary quality of confidence; it must have been…
Are the recitals in contracts binding?
Recitals, also known as the ‘preamble’ or ‘details’ clauses (Recitals) are introductory statements at the start of a contract that provide context, background or reasons for the terms and conditions that follow. They have been historically used by the Courts to aid in the interpretation of ambiguous terms and are capable of including essential provisions…
Compensation for breaches of director’s duties
Should it be held that a director of a company has breached their statutory duties, as contained in the Corporations Act 2001 (Cth) (Act), then the question arises as to how a Court will determine the amount of compensation to paid by the errant director. The remedies provided for in the Act include declaratory relief,…
IP Australia adopts Madrid Goods and Services list
From 26 March 2024, IP Australia has implemented the internationally recognised Madrid Goods and Services (Madrid List), replacing the AU Goods and Services Picklist.[1] The adoption of the Madrid List comes as Intellectual Property Australia (IP Australia) seeks to align the Australian classification standards with the other intellectual property offices around the world.[2] Adopting the…
The ‘right to disconnect’ from modern workplaces
The right to disconnect, as contained in part 8 of the Fair Work Amendment (Closing Loopholes No. 2) Bill (Bill), gives employees the right to refuse contact from their employers (or related parties) outside of their working hours, unless the refusal is unreasonable. The changes in part 8 amend various sections of the Fair Work…
Provisional liquidators and shareholder disputes
The appointment of a provisional liquidator may be appropriate in shareholder disputes if there are genuine concerns that there is a risk a company’s assets will be dissipated, there are potential solvency concerns and all other alternatives have been exhausted. The appointment of a provisional liquidator by a Court has been said to be ‘a…