Court will not stand for unfair contract terms any longer
As of November 2016, the Australian Consumer Law (ACL) was extended to provide that small businesses contracts can no longer contain unfair terms.
A contract term will be deemed unfair if:
•It would cause a significant imbalance to the parties’ rights and obligations under the contract;
•It is not necessary to protect the legitimate interests of a party; and
•It would cause detriment to a party if relied upon.
The ACCC are heavily pursuing companies who ignore the amendments to the ACL.
A well-known long running family business JJ Richards was too late in amending its contract terms and conditions to make them compliant with the ACL. The ACCC issued proceedings against them.
I think my business partner is stealing from me….
Picture yourself working day in day out to build your dream company, with a loyal and trusted friend by your side as your business partner.
Now picture your business partner’s behaviour changing. It starts off small, taking a long lunch, leaving early or coming in late. But then money starts to disappear from the business bank account without explanation.