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 product safety Commission is responsible protecting the public from unreasonable risk as well as serious injuries or death buy different type of products under its authority. These products can possess any kind of injury such as fire , chemical,electrical or a mechanical hazard.

12-

No, the store are required to be truthful in there pricing system . If an item is priced incorrectly on the shelf, or scans at the wrong price at the till, retailers are under no obligation to honour it, under the Sale of Goods Act.

13-

There are various situations where contracts can be done without consideration.
For example if a person who took Dept from another person states that he would return is money at specific period of time then there is no consideration made by the other party but it makes the contract enforceable.

14-

For a variety of policy reasons, courts will enforce certain types of promises even though consideration may be absent. Some of these are governed by the Uniform Commercial Code (UCC); others are part of the established common law

Reference- https://saylordotorg.github.io/text_law-for-entrepreneurs/s14-03-promises-enforceable-without-c.html

15-

If there is any statement of refund then your friend has application to payback the specific amount but if the money lend it has no specific documentation it could be considered as a gift where your friend does not have any obligation to return the amount.

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