Freedom of contract, business format franchising and the problem of goodwill

Article Abstract:

Franchises have become a common business format and so have raised questions about freedom of contract because of the unequal power and control given the franchisor over the franchisee. Problems generally revolve around the issue of goodwill and its expiration at the end of the contract if not renewed or if the contract is terminated. The need for legislation is becoming evident but currently two theories hold control: that the franchisees should be warned of unfair provisions and then left to decide or that traditional freedom of contract principles should be discarded in this case.

Cases, Franchises

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Insurance law

Article Abstract:

This article discussed a New South Wales Supreme Court case entitled in Summation v. SGIC Life Ltd. which considered the question of when a life insurance contract takes effect. Related questions include whether there had been a breach of the duty of disclosure, and, whether such duty to disclose would be triggered only if there was a reasonable opportunity to do so before the contract was made.

Australia, Insurance law

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Security interests in business goodwill

Article Abstract:

Financiers should be specific when drafting documents involving secured interests in goodwill. Defining and thus attaching charges to intangibles such as goodwill need to be specific, especially when involving goodwill such as a trade name, to protect them from default and third parties. Fixed charges are preferable to floating charges in such cases.

Secured transactions

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