According to the common law, the property was proved by an unbroken chain of securities deeds. The Torrens title system is another way to prove ownership. Introduced for the first time in South Australia in 1858 by Sir Robert Torrens, and then taken over by other Australian states and other countries, ownership under the title of Torrens is proven by the possession of a certificate of ownership and the corresponding inscription in the land registry. This system eliminates the risks associated with unregistered wear and control and fraudulent or otherwise incorrect transactions. It is much easier and less expensive to manage, which reduces transaction costs. Some Australian real estate is still transported with a chain of securities – usually real estate held by the same family since the 19th century – and they are often referred to as the “old system” of deeds. Selecting a title. The title of a contract should reflect only the nature or central purpose of the contract and indicate whether it is a licence, confidentiality agreement or other contract. The title should be concise: instead of using the agreement for the development, implementation and maintenance of Master Software Services Agreement software. However, the chosen title should not be meaningless, z.B agreement (without anything else).
Don`t specify a title that is too specific: a title should allow users of a contract management system to identify the right contract (from different contracts in a transaction) or recover it when searching for a useful precedent for another similar transaction. The security should not describe the transaction from both angles, as in The Purchase and Purchase Agreement. In order to avoid alerting the other party with a title (or alerting the party`s in-house counsel) indicating that the contract is one-sided (i.e., a sales contract is likely to be favourable to the sale); a more neutral alternative (z.B. supply contract). Do not include party names in the title. However, the designation of parties may be preferable in cases involving two joint ventures or in an agreement on the position of the parties vis-à-vis a designated party: Sony Ericsson Shareholders Agreement. Avoid using abbreviations (jargon); instead of referring to SW, you are referring to the software. If you wish, you can add a subtitle to the cover (z.B. Share purchase contract in connection with the sale of Johnson Distribution Services). However, captioning should not be repeated on the first page of the contract or in the footnotes. Financial agreements, such as. B long-term loans or facility agreements, often refer to as subtitles the principal amount (LmA model agreements recommend that the loan amount be used adjectively and placed directly above the title of the contract).