Semester 3 Commercial Law 1. What are contracts that are unenforceable? 2. How d

Question

Semester 3 Commercial Law 1. What are contracts that are unenforceable? 2. How do we secure a claim over someone's property in Australia? 3. What are the different business entities available to Australian entities? 4. What are implied and express terms, can you give an example? S. A customer arrives at a ferry terminal and pays for a trip, but find that the boat has left, he demands his money back. Can he get his money back? 6. Are some contracts defective, but can still be enforced? 7. What is a fixture on a property? How is this important if selling a property? 8. What are the distinct advantages of setting up a company? Are there any disadvantages? 9. What are the elements that make up the formation of a contract? 10. What is the parol evidence rule? How does it work and can we get around this? 11. What are the consumer protection provisions available to a consumer? 12. If I see a good, that is marked with the wrong price, does the store have to sell it to me for that price? 13. When can we do without consideration in a contract? 14. Can a promise be enforceable, even though no consideration has passed between the par- ties? 15. I have agreed to lend a friend some money, does he have to pay it back? 16. What are the ways in which a contract may become unenforceable by one of the parties? 17. What is the enforceability of exclusion clauses in contracts in Australia? 18. Jim enters into lengthy negotiations over the purchase of a car. Jim assured by the vendor that the car has been full serviced, and of good quality. Jim purchases the car, but finds it does not work as expected. What are his rights against the vendor? Section 1 Question 1. If an intoxicated person, an adult, enters into a contract, can they claim not to be lia- ble for that agreement? Explain with reference to appropriate law, and any factual situations which might lead to different conclusions as to enforceability of an agree- ment. 3 Marks a)

Explanation / Answer

11. Consumer protection provisions are mainly focused on the quality and fitness of a product. The consumer rights vary depending on the countries but overall the provisions (in nearly all country) are aimed to protect consumers against fraudulent and deceptive practices of the companies. The provisions include the following topic

12. This situation varies depending on the mode of purchase. The online retailers may have a different system when compared to a store retailers.

If a retailer shows incorrect price in a shop and if the prices indicate an obvious error, then the consumer cannot compel the shopkeeper to sell at the wrong price. This is where the consumer protection act (CPA) creates a provision to educate the consumers. The shopkeeper however should make sure that

In case of online retailers, the pricing and their display is regulated by electronic communications and transactions act (ECTA). The rules here is not exactly clear and since the transaction is online, there may be debate on this topic in the future.

13. Usually every contract requires consideration. However, in very few circumstance, there can be a contract without consideration. An example of such contract could be a pledge to donate to charity. In certain debt payment and transfer cases too such situations can come into play when promissory estoppel is established.

14. A promise can be enforceable even though there has been no consideration. This is the principle of promissory estoppel and it states that if a promise (false) is made and the other party accepts the promise as an agreement in good faith then the promise becomes enforceable in the eye of the law.

15. From an ethical standpoint, your friend should pay it back. However in order for this to be enforceable by law, you may need to prove that it was a lending and not a donation/gift. Also you must show that there has been an offer to borrow, acceptance to lend and the consideration and performance between the two parties.

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