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On 1 October 2021, the long anticipated Credit Contracts and Consumer Finance (Lender Inquiries into Suitability and Affordability) Amendment Regulations 2020 ("Regulations") came into effect after being passed into law by the Government in November last year. The changes are well-intentioned, with the purpose being to tackle high-cost consumer loans and minimise borrower hardship that had been well documented in recent Ministry of Business, Innovation and Employment inquiries into mobile trading. However, like all regulation, there is a trade-off, and these highly prescribed regulations place a significant compliance burden on responsible lenders, particularly small and medium enterprises.

Assignment of contracts is a fairly common practice in the business world. In an assignment, the person assigning the contract - the "Assignor" - assigns the benefits of the contract the Assignor holds to a new person (the "Assignee") who takes the benefit of that contract "the Assignee". Some contracts may expressly prohibit assignment and some contracts provide that a contract may not be assigned without the consent of the other party. If a contract has no provision relating to assignment, then the general rule is that it may be assigned, with a few exceptions.

In a world that is placing an increasing reliance on technology and value in data, it is hardly surprising that New Zealand's outdated Privacy Act 1993 ("Act") is scheduled to be replaced on 1 December 2020 in its entirety by the Privacy Bill ("Bill") which is currently making its way through the final stages of Parliament.

There are many circumstances where businesses might give credit – even without formally doing so. Providing goods or performing services in advance of full payment is extremely common, but if a company or sole trader you are dealing with has financial problems or a poor credit history, then you may not get paid.

Part 4 of the Contracts and Commercial Law Act 2017 ("CCLA") provides that, with some few exceptions, where a signature is required by law (including to conclude a contract) you can sign that document electronically provided certain conditions are met. An electronic signature is defined in the CCLA as a method used to identify a person and to indicate that person's approval of that information.