Commercial Law

Directors’ contractual liability: dual capacity, one signature but two roles?

Civil Litigation & Dispute Resolution, Commercial Law, Corporate & Finance / By

When a company director signs an agreement on behalf of a company, they may also be required to sign a personal guarantee, this means they are accepting personal liability for the obligations of the company. What is a personal guarantee? Personal guarantees are common in several types of agreements, for example leases, supply/trade agreements, or …

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Re-register it before you regret it: why incorporated societies must act now

Commercial Law / By

The Incorporated Societies Act 2022 represents a significant overhaul of the legal framework governing incorporated societies in New Zealand. The new Act introduces fresh governance standards, clearer responsibilities, and a modern framework designed to protect your society and its members. All existing incorporated societies are required to complete a re-registration process and comply with new …

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What protection does a business have when purchasing goods?

Civil Litigation & Dispute Resolution, Commercial Law / By

Consumer purchases vs business purchases Everyone knows about the Consumer Guarantees Act 1993 (CGA), which provides a “consumer” with remedies if a business has failed to provide goods or services to a reasonable standard. But what happens if you are a business purchasing goods? The answer is not found in the Consumer Guarantees Act 1993; …

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With strings attached: finance options and exit strategies for small business owners

Commercial Law / By

Why selling a small business is challenging in today’s market It is not an easy time to be selling a small business in New Zealand. Business owners looking to maximise value and achieve a successful business sale face a challenging market. High inflation and waning consumer demand has led to compressed margins and reduced revenue …

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Incorporated Societies Act 2022 – How do I reregister?

Commercial Law / By

The Incorporated Societies Act 2022 (“New Act”) came into force on 5 October 2023.  The New Act replaces the Incorporated Societies Act 1908 (“1908 Act”). All existing incorporated societies must apply to reregister under the New Act before April 2026 if they wish to continue as an incorporated society.  Failing to do so will result …

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Understanding your obligations under the Consumer Guarantees Act 1993

Commercial Law / By

The Consumer Guarantees Act 1993 (CGA) provides a consumer with remedies if a business has failed to provide them with goods or services to a reasonable standard, regardless of whether the consumer has a written warranty or guarantee from the supplier or manufacturer. The CGA is intended to foster a trading environment in which consumer’s …

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Construction Contracts (Retention Money) Amendment Act 2023 – ‘The Highlights’

Commercial Law / By

The collapse of high-profile construction businesses such as Mainzeal and Ebert Construction and subsequent judgments dealing with the distribution/management of retentions have prompted some important legislative changes affecting the construction industry. The most recent change being amendments to the Construction Contracts Act 2002 (CCA) contained in the Construction Contracts (Retention Money) Amendment Act 2023 (“the …

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Charities and Community Groups – choosing the right entity

Leave a Comment / Commercial Law, Social Impact / By

So, you have come up with an idea for a new charity or group to support others. That’s great! New Zealand communities are built on volunteer groups. However, you may have heard horror stories about administrative problems with community groups and want to avoid these issues from happening to you. Choosing the correct structure for …

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All is fair in Consumer Contracts and Trade – Changes to the Fair Trading Act 1986

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The purpose of the Fair Trading Act 1986 (FTA) is to promote confidence and fair competition amongst business and provides a number of rights to consumers. The Commerce Commission works hard to enforce fair and proper trade practices of businesses providing goods and services to the New Zealand market. A recent example being the $840,000 …

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Help – I’ve been asked to provide a guarantee

Leave a Comment / Commercial Law / By

What is a guarantee and indemnity? When approaching a lender for finance, they may request a guarantee be provided as security alongside the loan documents. A guarantee is a separate promise to the lender stating if the borrower doesn’t meet their obligations under the loan, you as guarantor will fulfil them. Lenders require you to …

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