Daywork
A method of payment to a Contractor which is based on the Contractor's cost of labour and materials plus an agreed percentage for overheads and profit.
Debenture Trust Deed
A deed that sets out the rules of a trust established for an issue or offer of debentures. Under the deed, the trustee holds specified rights in trust for the benefit of debenture holders.
Deed of Novation
An agreement by the incoming, outgoing and continuing parties to a Contract to discharge the Contract and enter a new one on the same terms. The new (incoming) party is substituted for another (outgoing) party to the Contract with the continuing parties.
Defamation
The publication of information about (or attributes of) a person, including a company (except in New South Wales), that damages that person's reputation in the eyes of the ordinary person. Every state and territory of Australia has its own defamation laws. The aim of a court action for defamation is to restore the reputation of the defamed person and may result in damages awarded to that person. In some cases the law provides a defence to the publication of defamatory material.
Default
A failure to perform a required act or obligation, or the performance of a dishonest or wrongful act or omission. Under a Contract, specified defaults may entitle the other party to terminate the Contract.