Can a Binding Financial Agreement ('BFA') be Set Aside by a Court in Western Australia?
The Family Court will only set aside a BFA otherwise known as a pre-nup in limited circumstances (for further information relating to BFA's or Binding Financial Agreements in Perth, Western Australia click here).
We prepare and provide legal advice on BFA's. For more information on BFA's click here.
Our practice is located outside of the Perth CBD and because of this our hourly rates are 20% lower than the standard rates charged by most Perth law firms. Our rates are extremely competitive compared to the rates charged by other commercial law firms.
The court may make an order setting aside the agreement if the Court is satisfied that:
- There has been a failure to disclose relevant matters such as an asset, interest in a trust or a real estate valuation;
- The agreement was obtained by fraud or duress;
- The agreement is uncertain or incomplete or has been obtained by undue influence, misrepresentations, mistake, fraud or other contractual irregularities;
- A party to the agreement entered into the agreement:
a. for the purpose of defrauding or defeating a creditor; or
b. with reckless disregard of the interest of a creditor.
- the agreement is void, voidable or unenforceable;
- in the circumstances that have arisen since the agreement was made it is impractical for the agreement or part of the agreement to be carried out;
- since the making of the agreement a material change in circumstances has occurred (being circumstances related to the care, welfare and development of a child of the de facto relationship) and as a result of the change of the child a party to the agreement will suffer hardship if the Court does not set the agreement aside.
- in respect of the making of a financial agreement or former financial agreement, a party to the agreement engaged in conduct that was, in all circumstances, unconscionable.