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Franchisors Must Have Guarantors Sign Off on Changes to Documents

Posted by Elizabeth Gore-Jones on 7 February 2024
BACKGROUND The recent New South Wales Supreme Court case Lee v ATL (Australia) Pty Ltd [2023] NSWCA 327 found that a guarantor was not liable to a lender under a loan deed where that deed had been amended by a side letter between the borrower and the lender which did not include the guarantor. The Court found that the guarantor was not liable to the lender at all. TAKEAWAY If a franchisor is agreeing to vary the terms of a franchise agreement or related document, it should ensure that the...
Posted in:BusinessNewsFranchisor  

Unfair Contract Terms Are a Priority for the ACCC

Posted by Elizabeth Gore-Jones on 31 January 2024
The ACCC issued a report in December 2023 called “Unfair Contract Terms in Franchise Agreements – Key Findings of Targeted Compliance Checks on Franchisors”. You can find the report here. An important disclosure in the report was that the ACCC stated that: “We consider that the franchising sector is on notice regarding the ACCC’s views about UCTs in franchise agreements.” The ACCC gave the following tips when reviewing their contracts: 1.  &nb...
Posted in:LeasesBusinessNewsFranchisor  

Unfair Contract Terms Apply to Leases

Posted by Elizabeth Gore-Jones on 30 January 2024
As from November 2023, the Unfair Contract Terms legislation introduced significant penalties for including unfair terms in any contract including leases. The penalties could be $50 million. The new legislation will apply to: 1.      Any new lease 2.      An assignment, variation or renewal of a lease (regardless of when the lease was originally entered into) 3.      The exercise of an option under the lease even ...
Posted in:LeasesNews  

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Happy Easter from The Franchise & Business Lawyers!

Mar 28 2024
Wishing you a long weekend filled with joy, laughter and warmth! May your Easter basket be filled with blessings and your heart with love. Remember, just like a successful franchise, Easter is all about growth, renewal and new beginning...

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