Signing Business Sale Contracts Electronically in Queensland

By
Joe Kafrouni
08 Feb 2012
•
5
min read

Most business sale contracts are now signed electronically. In Queensland that is usually straightforward, but three things are worth checking.

  1. The contract itself. The fourth edition of the REIQ Business Sale Contract provides that if anyone signs it with an electronic signature, the buyer and seller agree to enter into the contract in electronic form and consent to either or both of them signing electronically (clause 40.1). The buyer also consents to the seller using electronic communication for any notice or information required by law that was given before the buyer signed (clause 40.2). If you are using another form of contract, include a similar clause, and a clause allowing it to be signed in counterparts.
  2. The Electronic Transactions (Queensland) Act 2001. Where a Queensland law requires information to be given in writing, or a document to be signed, the Act allows that to be done electronically if, among other things, the person receiving it consents (sections 11 and 14). Consent can be inferred from a person’s conduct, but it is safer to have it in writing, and a contract clause like the REIQ’s records it.
  3. Companies. Since 23 February 2022, the Corporations Act 2001 (Cth) has permanently allowed a company to sign documents, including deeds, electronically under section 127, and its signatories can sign separate copies. Check that the signing block names the right signatories, and that each of them actually signs.

A short email exchange confirming that both parties are happy to deal electronically, before the contract is sent, is still good practice, particularly where the other party has no lawyer.

Want my view on your own situation?

Book an initial consultation

: up to two hours with me by phone for a fixed fee of $1,650 (including GST), then a short written note of my advice and next steps. If my conflict check means I can't act, I'll refund your fee in full. To check anything first, email

info@klaw.com.au

or call

(07) 3103 3199

.

Joe Kafrouni, Accredited Specialist in Business Law, Kafrouni Law

Disclaimer: This article is general information only and is not legal advice. Before acting on it, get advice on your own circumstances. To the extent the law allows, Kafrouni Law accepts no liability for any loss arising from reliance on it. This article is the copyright of Kafrouni Law.

What People Say

Joe's been our company’s lawyer from the beginning and has been instrumental in our journey as company owners and directors. When dealing with both complex and sensitive company issues, Joe is able to provide us with clearly articulated strategies that are well thought‐out and with the bigger picture in mind. He genuinely cares and is always willing to share his personal views, which are both honest and just. Joe is highly professional and knowledgeable in his field. You will definitely benefit having him on your team.

Company director and shareholder

Joe has assisted us with numerous acquisitions and mergers over the last 10 years. Joe's advice and expertise have been invaluable. Joe is always prompt and professional and answers all of our questions in detail. I can highly recommend working with Kafrouni Law and we will look forward to working with them for many years to come.

Managing director, acquisitions

Thank you, Joe. It was a pleasure working with you to resolve the matter today. In particular, I appreciated your patience to fully understand each party’s position and to bed down a final heads of agreement to conclude the resolution between the parties.

Business owner, commercial dispute

Kafrouni Lawyers assisted me to resolve my partnership and company shareholder dispute over a family cattle business and property. From the start, Joe provided practical advice and options to resolve the dispute away from the courts. His perseverance and technical skill helped unravel a complex financial structure, resolved disputed shareholder claims, and resulted in a signed settlement deed rather than litigation. Joe cared to explain the legal and financial complexities behind his step by step advice and maintained our focus on the end goal. Joe's involvement certainly improved my family's position and I recommend Joe to anyone finding themselves in similar circumstances.

Partner and shareholder, family agricultural business

The biggest lesson I have learnt from you recently, Joe, is that it pays to have a professional such as yourself on my side to deal with matters that I am unequipped to handle … so I can carry on with the task at hand of building my business! Thanks again, I’ll take pleasure in recommending your services to anyone in need.

Business owner

Joe, as you know we were in a very difficult position with our company before we engaged you as our lawyer and fortunately, even with the odds stacked heavily against us in our shareholders dispute, you managed to pull us through to victory. You are a true credit to the industry not only because of your skilled negotiating tactics but also due to your personable nature, which made us feel comfortable in such a volatile situation.

Company director, shareholder dispute

‍
‍

Book an initial consultation

An initial consultation is the best way for us to find out whether, and how, I can help. It suits business owners and directors facing a decision that matters. You get my considered view of your situation, not just a first impression.

‍

The fee is a fixed $1,650 (including GST). It covers a phone consultation of up to two hours, plus up to one hour of my time to consider the material you send me beforehand and to prepare my written note afterwards. Here is how it works:

1. When you book, you tell me briefly what the matter is about and who else is involved, so I can carry out a conflict check and confirm I’m free to act. If I can’t act for you, I’ll refund your fee in full.

2. I tell you what information and documents I’d like to see, and I consider them before we speak.

3. We talk it through by phone. I give you my initial advice, the options I see and what I’d do in your shoes.

4. Afterwards, I send you a short written note of my advice and the next steps I recommend.

‍

If I can help further, I’ll explain how. If I can’t, I’ll say so. You are under no obligation to engage me further. If your matter needs more than this, I’ll send you a proposal setting out how I can help and an estimate of my fees. No further work starts until you accept it.

‍

I keep only a limited number of consultation times. If none suits you, or you’d like to check anything before booking, email info@klaw.com.au and I’ll do my best to accommodate you.

Skip to main content