The tradition of reaching for your finest fountain pen to sign a contract at the board room is slowly fading. With technology advancing and the law advancing with it, it is becoming increasingly common for negotiations to take place and a binding agreement reached purely through electronic communications. And yes, this includes signing the contract!
In July 2015 Justice Black handed down a decision in the case of Bluenergy which dealt a blow to secured creditors holding a security interest in all of a company’s present and future assets.
With effect from 1 July 2016, the NSW State Government has abolished stamp duty on mortgages, being the last Australian state to do so. However, this isn’t just a dry change in taxes; it is an opportunity for anybody in the business of granting credit.