Under the Retail Leases Act 2003 (Vic), an assignment of an executory contract for a retail premises lease operates as a continuation of the lease, creating privity of contract between the assignee and the other party to the contract, even where no such privity existed under general law. The burden of an equitable lease does not run with the land under general law in Australia, and Boyer v Warbey is not followed. A guarantee of a lessee's obligations under a lease 'for the term and any renewed term' may extend to obligations under a new lease term where the guarantee instrument, read as a whole, evinces that intention. A guarantee covenant that touches and concerns the land runs with the reversion under s 140 of the Property Law Act 1958 (Vic).
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