“A verbal contract isn’t worth the paper it is written on” While this phrase has often been used to disparage the ability to prove the existence of a verbal contract, it also highlights one of the difficulties that can arise when a contract is entered into without being put in writing, even if all the...
In litigation, we routinely see contracts, entered into by both people and companies that have been messed up, with varying consequences for those who enter into them. 1. Understand what constitutes the contract: A contract need not be in writing. Often, for more casual business relations, we see a very general written contract supplemented or...
Once again it has been necessary for the ATO to clarify an important issue regarding the payment of a member’s benefits after death. In 2011, in a draft ruling, the ATO took the position that a super income stream (e.g. pension payment) must cease as soon as the recipient has died unless a dependent beneficiary...
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