Australia: Corporate/Commercial Law

Verbal contracts are generally legally enforceable in Queensland when essential elements like offer, acceptance, and consideration are present. The primary challenge lies not in legal validity but in proving the agreement's existence through evidence such as witness testimony, communications, and conduct. This article examines when oral agreements can be enforced, how courts assess their validity, and the common pitfalls that can undermine verbal contract claims.

ASIC v Bekier & Ors clarifies how governance accountability is likely to be assessed, with courts and regulators focusing on whether governance systems ensure material risks reach the board in time for meaningful oversight rather than individual actions or decisions.

As the end of financial year approaches, businesses face mounting pressure to clear outstanding debts and strengthen cash flow. This practical guide reveals five essential strategies for maximising debt recovery before 30 June, from establishing clear contractual terms to knowing when professional intervention becomes necessary.