Presenters

Paul Dalkie, Barrister

Jane Glover, Barrister, Sangro Chambers

Synopsis

While many contracts proceed as intended, there is the potential for things to go awry. When market conditions change, one party may decide that they no longer want to, or cannot, meet their obligations under the contract. For example, perhaps exacerbated by the current economic climate, we are seeing issues arising with agreements for the sale and purchase of property (particularly off-the-plans), and with long-term contractual arrangements such as supply agreements, leases, and franchises. Accordingly, it’s useful to be clear about when an entitlement to cancel arises, which legislative provisions apply, what options the innocent party has, and the remedies available. 

In this paper, Paul Dalkie and Jane Glover will provide information and insights, with reference to examples and case law, to assist you to advise clients on either side of a ‘contract gone wrong’.

These Materials will help you

• Refresh your knowledge of the circumstances in which an entitlement to cancel arises.
• Boost your understanding of key legislative provisions, such as what amounts to repudiation, and when a misrepresentation or breach gives rise to a right to cancel.
• Delve into the critical election between cancellation and affirmation and the repercussions of each. 
• Become updated on the subject of remedies, and aware of how economic circumstances might affect your advice and the remedy options for your clients.
• Benefit from an update on principles in current leading cases.

Intended Audience

All lawyers who have involvement with contracts – property, commercial and civil.