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Publication: InBrief

  • Trust Law – What is New?

    11 February 2020

    The Trusts Act 2019 (“Act”) is the result of the extensive review of trusts in New Zealand over a decade ago by the Law Commission. The intention of the Act is to modernise trust law in New Zealand making it more accessible for everyone.The Act will apply to new and existing trusts, and it takes effect on 30 January 2021. Anyone involved with trusts will need to be aware of the main changes coming with the new Act which are ...

  • Terminating Employment

    11 February 2020

    An employee is entitled to resign from their job at any time and for any reason; the only obligation being to give the notice required under their employment agreement.An employer, however, cannot terminate a worker’s employment by giving unilateral notice without cause. Under New Zealand law, principally governed by the Employment Relations Act 2000, an employer requires a lawful reason to terminate a worker’s employment. And, the employer must also follow a fair and reasonable process before making the final ...

  • Joint Ventures

    11 February 2020

    Are you working on a business idea with a friend or thinking of developing a business idea with someone as a joint venture?A "joint venture" is not in itself a legal structure, and there is no “law” of joint ventures as such. It describes a joint undertaking carried out in a structure other than a partnership. It can involve a mix of contract and company law and can incorporate concepts from equity and agency law. Due to the absence of ...

  • Future Proofing your Contracting-Out Agreement

    11 February 2020

    We encourage you to have your contracting-out agreement reviewed regularly and to have any new agreement “future proofed” to avoid the agreement being challenged in Court.Contracting-out agreements are private contracts between parties who have agreed to “opt” out of the equal sharing regime under the Property (Relationships) Act 1976 (“PRA”). The effect of opting or contracting out of the PRA means parties have chosen to agree between themselves on how to classify and divide their property without the law surrounding ...

  • Contracts of guarantee are ubiquitous in the commercial and personal legal landscape.

    10 October 2019

    In our experience, they are sometimes agreed to as an afterthought when the primary agreement terms have already been negotiated in detail and are just as quickly forgotten when the dust has settled.A contract of guarantee (Guarantee) is a contract under which a person (Guarantor) agrees to answer to another person (Obligee) for the debt default or liability of a third person (Obligor). A Guarantor does not directly undertake the obligations of the Obligor. The Guarantor assumes liability only when ...

  • Government announce changes to KiwiBuild and home ownership products

    10 October 2019

    Following the 4 September 2019 press release, the Government has announced new initiatives to help more New Zealanders into homes. These new initiatives will be achieved through what the Government is calling a “KiwiBuild Reset”.At a glance, this KiwiBuild reset includes:new ways for people to become home owners, such as shared home ownership schemes a name change for the KiwiSaver HomeStart Grant: it will now be called the First Home Grant deposits being reduced to 5% for new and existing homes the First ...