The Federation Press

Sale of Businesses in Australia

Overview

This second edition of Sale of Businesses in Australia concentrates on the sale of small businesses trading as individuals or in partnership under the standard Sales of Business contracts promulgated by the various Law Societies and Real Estate Institutes. Several chapters also apply to the sale of businesses generally.

Topics covered include:

  • matters relating to the typical transaction: stock in trade, goodwill, plant and fixtures;
  • additional matters such as intellectual property, business names, and the transfer of business leases;
  • special contract provisions, including restraint of trade and employee provisions, and other special conditions commonly found in contracts;
  • taxation implications of the sale;
  • time stipulations;
  • obligations on completion;
  • disclosure obligations;
  • remedies for commonly encountered types of breach by either party.

The book serves as an ideal reference point for the busy legal practitioner involved in advising upon these transactions and has extensive references to the standard contracts in New South Wales, Victoria and Queensland.

Reviews

The authors note that most busineses which change hands in Australia are small to medium. The book is clearly written with that type of conveyance in mind, but it will also prove valuable to those dealing in larger transactions. It is admirable that the authors have managed to cover every Australian jurisdiction, and an enormous range of issues, in a mere 427 pages. ... most practitioners should find its format and easy to follow index a great time saver. Students should also find it valuable in commercial transactions courses. I note the modest RRP of $125, I would think it a necessary investment for anyone who deals in this area. - ACT Law Society Newsletter, Ethos, March 2010

The authors in this second edition address not only legal matters concerning a buyer, seller and legal practitioner but also legal issues applying to a variety of stakeholders in the sale process such as employees, accountants, agents and advisers...A practical reference for any commercial practitioner or for an astute purchaser seeking an overview of the legal aspects of buying a business. - Law Institute Journal of Victoria, April 2010

Table of Contents

Overview of Sale Transaction
Professionals Involved in Business Due Diligence
Pre Contractual Disclosure
Subject Matter of Sale other than Lease of Real Property
Intellectual Property
Dealings with Business Premises
Investigation by Purchaser of Title to Business Assets
Taxation
Restraint of Trade
Employment Issues
Special Conditions
Chattel Securities
Time Stipulations
Completion
Dispute Resolution
Table of Cases
Table of Statutes
Index

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