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Welcome to the Sharp Tudhope Lawyers' blog. Here you will find  topical information and advice relating to a wide range of areas of law, written by our legal experts.

PENALTY PAYMENTS UNDER CONTRACTS

Anybody who enters into contracts as part of a construction contract will be familiar with the idea of “liquidated damages”. These clauses outline the amount of money which is payable by a party who breaches the contract. The amount payable under a liquidated damages clause is meant to be a genuine pre-estimate of the damage which will be suffered by the innocent party as a result of the breach. The amount does not have to be entirely correct, but it needs to be genuine.
Written by Bill Chapman at 00:00

ENDURING POWERS OF ATTORNEY - CHANGES ARE COMING

Amended regulations for Enduring Powers of Attorney will come into force on 16 March. The regulations will include new plain language Enduring Power of Attorney (EPA) forms and a plain language explanation of the effects and implications of entering into an EPA.
Written by Jenny Glubb at 00:00

CONSUMER EXCHANGE LAW

Heading into the most popular purchasing season of the year means it is the perfect time for a refresher on your consumer exchange rights. The Consumer Guarantees Act 1993 sets out the law around returns where a product is faulty or does not perform as advertised. However, it does not provide for the return of goods you simply “don’t like” or “don’t want”. Ultimately this is determined by the return policy of the store you have purchased the product from.
Written by Alexia Grindle at 00:00

FMCA TRANSITION PERIOD ENDS

As of yesterday, 1 December 2016, the 2 year transition period under the Financial Markets Conduct Act 2013 (“FMCA”) officially came to an end. Now, all offers of financial products (such as shares) must be made under the FMCA and the Securities Act 1978 is put to bed.
Written by Kylie van Heerden at 00:00

SELLING A UNIT TITLE? HERE'S WHAT YOU NEED TO KNOW

Are you looking at buying or selling an apartment? If so, there are key provisions of the Unit Titles for information disclosure which you need to be aware of. Note: these rules cannot be contracted out of if and when you decide to sell up and move on.
Written by Amelia Smith at 00:00

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CONSTRUCTION CONTRACTS UPDATE

Parliament has identified the need for clarification of the forthcoming retention regime under the Construction Contracts Amendment Act 2015 (“Amendment Act”), and has introduced the Regulatory Systems (Commercial Matters) Amendment Bill (“Bill”), which proposes to change s11A of the Amendment Act.
Written by James Hakaria at 00:00

DUE DILIGENCE - WHAT IS IT AND WHY DOES IT MATTER?

For many people, due diligence is not a common phrase but it is something that every purchaser should consider if you are buying a commercial investment, residential property or business.
Written by Brooke Courtney at 00:00

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SNAPPING UP A SECTION? READ THIS FIRST

With the housing boom in our region in full effect we’re seeing buyers rushing in to grab bare land as soon as it hits the market – often without an inspection.
Written by Alasdair Christie at 00:00
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CHANGES TO THE CONSTRUCTION CONTRACTS ACT 2002 – STAGE 2

Last year an array of amendments were made to the Construction Contracts Act 2002 (CCA), to be implemented in three stages, namely on 1 December 2015, 1 September 2016, and 31 March 2017. For our earlier bulletin with details of the Stage 1 amendments follow this link.
Written by James Hakaria at 00:00

PROPERTY INVESTORS AND OFFSHORE OWNERS - DO YOUR HOMEWORK

If you are a property investor or offshore owner of residential property in New Zealand, you may be caught by the new Residential Land Withholding Tax (RLWT) rules if you are looking to sell within two years of purchase. New rules came into force on 1 July 2016 that require RLWT to be collected on certain property sales.
Written by Stephanie Bode at 00:00

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