The Contract and Commercial Law Act 2017 (“CCLA”) came into force on 1 September 2017 to consolidate and update New Zealand’s law relating to contracts and sales.
While there are no substantive legal changes, the CCLA will modernise the language of the repealed statutes to either clarify Parliament’s intention or reconcile inconsistencies which have developed over time with new legislation.
The CCLA repeals and combines the following commercial statutes into one act:
• Sale of Goods Act 1908;
• Carriage of Goods Act 1979;
• Contracts (Privity) Act 1982;
• Contractual Mistakes Act 1977;
• Contractual Remedies Act 1979;
• Electronic Transactions Act 2002;
• Frustrated Contracts Act 1944;
• Illegal Contracts Act 1970;
• Mercantile Law Act 1908 (other than Part 5);
• Minors’ Contracts Act 1969; and
• Sale of Goods (United Nations Convention) Act 1994.
What you should do:
To ensure compliance with the CCLA, businesses would be well advised to review and update their standard form contracts, terms and conditions and other template documents by 1 September 2017.
For more information or assistance in transitioning successfully with the CCLA, please contact us.