Australian Commercial Law: Finding Law, Business, Law and the Legal System, Operating a Business and Contracts

This report discusses Australian Commercial Law, including finding law, business, law and the legal system, and operating a business and contracts. It covers the basic elements of contract law, sources of law, and dispute resolution procedures.

Australian Commercial Law
Individual project Instructions and
Question
Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
PART A – FINDING LAW.......................................................................................................2
PART B – BUSINESS, LAW AND THE AUSTRALIAN LEGAL SYSTEM.....................4
PART C – OPERATING A BUSINESS AND CONTRACTS..............................................5
CONCLUSION................................................................................................................................7

REFERNCES...................................................................................................................................8
INTRODUCTION
The term law has been addressed as the set of various rules and regulations that are
outlined for the purpose of creating a binding effect on the people as well as other bodies in the
society in order to maintain peace and security in the country. Further the laws which regulate
and govern the conduct as well as the transactions of the organisations trade and commerce are
defined as the commercial laws of the country (Abdullah, (2020)). The commercial law of
Australia is the one which entails the guidelines, by which the companies need to comply with in
order to carry out the activity of trade. Other than this the Australian parliament is the only body
which is enshrined with the powers of formulating the laws for the country. Commercial law
being the major head comprises of the various other legislation such as law of contract,
competition and consumer laws, law of torts, etc. the following report elaborates various
legislations as well as the case laws that stands applicable to the country. It also entails the
understanding of contract laws of the country along with the possible aspects of formation and
terms of contract.
MAIN BODY
PART A – FINDING LAW
There lies the number of ways in which one can acquire the understanding regarding the
commercial laws of the country. The information’s by statutory authorities, government
institution and legal data are some of the major ways of studying. The Federal Register of
Legislation, FRL is one such authority which is governed and regulated by the parliamentary

council of the country which mainly aids in specifying the various legislative instruments that
stands applicable in the state. The other is the Australian Information Institute, AustLII, is the
institution which primarily works for the laws of the country. This institution also assists the
people in approaching the needful information with respect to the secondary as well as primary
data of the laws (Anastasi, Hayward & Brown, (2020)). Other than this, the courts of the country
are the other major source by which the information’s can be acquired in the form of judicial
precedents. An important example of this can be the contract law of Australia, as it has been
traced from the courts of the country. The liberty to contract is one major principle of the
contract law of Australia which specifies that there must lay the free will as well as the consent
of the individuals who are parties to the contract. The law also entitles them to freely bargains on
the terms of the agreement. Moreover, with respect to the question of jurisdiction, it stands
applicable to the point where the agreement is initially created by the parties in Australia.
Furthermore, Contract law outlines the situations in which the agreements can be formed
by the concerned parties. Majorly, there lie the six essential elements, which the parties need to
fulfil in order to have the formation of legal valid contract. The offer, acceptance, consideration,
intention to create legal obligation, legal capacity of the parties and their free will and consent
are said to be the required essential elements of the contract under Australian contract law. Other
than this the legislation also entails the provisions regarding the breach of contract which is said
to take place when any of the party to the contract fails to comply with the stated conditions of
the agreement resulting in the damage or loss to the other party. Other than the breach the law
also specifies the various types of remedies which lie at the option of aggrieved party as a result
of such breach. Some of the basic types of remedies are the compensation, damages, injunction,
specific performance, etc. whereas the monetary damages are the most used remedy which is
generally allotted by the courts in favour of the aggrieved party in order to restore them to their
actual position. Moreover, the constitution of the country is named as the Commonwealth of
Australian Constitution Act of 1900, having it jurisdiction all over the country (Grossman,
Gerrand & Halafoff, (2020)).
The constitution is considered as the primary statute of the country which specifies both the
powers as well as the duties of the government of the state. Other than this the constitution also
entails the fundamental duties and rights of the citizens of country. Moreover, the online
websites by which the information has been accumulated stand very effective and easy to use.

The said resources are considered as the handy to use where even the non experienced
individuals can also take benefit of the same. Other than this, the format of the sites is also the
one which can be easily understandable. The websites renders the broad range of understanding
on several legal aspects. It comprises of different legislations and judicial precedents. The
language of the websites is easily understandable and also aids fresher’s in learning with respect
to the legal sector. There are also several links added to the website for improved knowing.
PART B – BUSINESS, LAW AND THE AUSTRALIAN LEGAL SYSTEM
There are many different types of principles and concepts in the Australian legal arena.
This report describes three key principles here. The first principle is equality before the law. The
principle of equality before the law ensures that everyone is equal before the law, regardless of
caste, gender, race, religion, economic differences, etc. This law discriminates against the equal
treatment of all employees within an organization and the equal treatment of everyone in the
company. The second principle is freedom of speech. According to this principle, all employees
in an organization have the right to speak for their personal and social life. Employees can
communicate their opinions and opinions to management (Lisk & de Zwart, (2019)). This
guarantees better decision making in the company. It also boosts the employee's self-esteem.
Access to justice is the third legal principle. This notion states that every employee has the right
to seek justice. Various statutes exist to protect the rights of employees in the corporation in
order to ensure this. In general, these concepts have an impact on all commercial activity. This is
due to the fact that all statues are created prior to the application of these principles.
Furthermore, any law that does not follow these principles is void in the eyes of the law.
Companies Act 1981, Employment Services Act 1994, and other commercial regulations exist in
Australia. Are all bound by these basic legal principles. All of these acts' provisions must adhere
to the above-mentioned textual standards. Furthermore, firms in the United Kingdom must
adhere to these essential principles in order to operate effectively and legally. The Employment
Service Act lays forth the guidelines that must be followed by all employers when hiring new
employees. It also outlines the principles that must be followed by both the employer and the
company's employees. It also outlined the procedures for hiring physically disabled individuals

into the organisation. As a result, all of these principles are critical for an organisation to fulfil its
responsibilities to the nation (Parker & Ward, (2020))
.
PART C – OPERATING A BUSINESS AND CONTRACTS
1. Formation of contract-
Australian contract law is not a legal law. It comes from the law of the most common rights and
legal cases. The contract law contains six basic elements, that is offer and acceptance, legal
relations intention of both parties, consideration, free consent, legal capacity to do such contract
of both parties. These basic elements must be met to agree with the contract agreement. If one of
these conditions is not satisfied, there is no contractual performance between the parties. The
principles associated with Australian contract laws are free contracts. Australian contract law
comes from English law. The freedom of the contract means that the parties are free to contract
from the free will. Nobody will continue to mean that people who create contracts are not
possible without their will. Such contracts are warned by the law.
In the case of Australian Securities and Investment Commission vs. Koberto. This is the case
of unscrupulous acts ruled by an Australian court. In the above scenario, one cannot sue Babe
Ruth at Reverse Swing Sports Goods Pvt Ltd. This is because ads submitted by Jan can only be
legally created in response to an offer submission request, not an offer. Advertising does not
meet the entire basic contract requirements set out in Australian contract law (Saunders, (2019)).
The first step is a contractual offer and will not be performed in this case study. Jan has not
signed a contract for the following reasons: On the one hand, the advertisement did not include a
contract offer by Jan. On the other hand, the customer did not accept such a contract. Third, there
was no intention of imposing legal obligations between the parties to the contract. Fourth, in this
case, there was no free consent of the parties. Not all of these key elements are justified in this

current case study. The case study also does not meet other important parts of the contract.
Therefore, Babe Ruth cannot sue the Reverse Swing Sporting Goods Co. Ltd. due to the above
reasons (Stephenson, (2021)).
2. Terms of contract-
The above case report of Jan is about Australian contract law. Jan has a great deal of need to
comprehend legal and business matters relating to commercial law. This is because she is new to
Australia, and if she is unaware of these concepts and rules, it will have a negative impact on her
business. The commercial motivation for understanding contract law is that without it, a
company could lose a lot of money. It is a pre-requisite for a businessperson to be familiar with
contract laws. This is because, in most cases, a company's business is conducted through
contracts.
The agreement is created among the purchaser and providers within side the business. Moreover,
agreement is created among the wholesaler and the organization for the uncooked material
(Taylor, (2019)). So, as to create an effective arrangement it's far very vital that one should have
the know-how of settlement regulation. This can permit the character to take higher choices for
the business. Moreover, this will end result into incomes increasingly earnings for the
organization. The criminal cause for the information of settlement regulation is that the
organization can need to face criminal instances for the non fulfilment of all of the circumstance
to contract so as to end result into trial instances within side the civil courts of the country.
Furthermore, it'll devour money and time of the organization. As a effect of this, the organization
can go through large loss.
There is a huge difference between explicit and implicit contracts. Explicit terms are
those that are clearly stated in the contract. In contrast, the implicit terms of a contract are those
that are not explicitly stated in the contract. Implicit conditions may include verbal
communication of conditions between the parties. This includes the actions of the parties.
Implicit contracts can lead to the actions of the parties. The two commercial risks include breach
of contract between the parties. In the case of an implicit contract, there is usually a breach of
contract between the parties(Viven-Wilksch, (2020)). This is primarily due to the trust between
the parties, as there is no on paper agreement amid the parties. In addition, in proceedings,

innocent parties usually suffer due to lack of verification in the contract. Two dispute resolution
procedures under Australian contract law are ADR (Alternative Dispute Resolution) and
proceeding to a proceeding in court. These two dispute resolution procedures are commonly used
in Australian contract cases. This type of resolution has several advantages. ADR can help you
resolve a case in the shortest possible time without having to go to court. The parties to the
proceedings may also contact ADR before and after the proceedings. The second dispute
resolution is done by the court. Courts are the most important place to get justice. It works with
evidence and has brought justice to innocent people since the last years.
CONCLUSION
From the following report it can be summarised that the commercial law of Australia is the
one which entails the guidelines, by which the companies need to comply with in order to
carry out the activity of trade. Other than this the report also entails that the contract law
contains six basic elements, that is offer and acceptance, legal relations intention of both
parties, consideration, free consent, legal capacity to do such contract of both parties. These
basic elements must be met to agree with the contract agreement. The report also while
mentioning the various contentions concluded that Babe Ruth cannot sue the Reverse Swing
Sporting Goods Co. Ltd.

REFERNCES
Abdullah, N. (2020). Legislating a Good Faith Obligation in Australia. In Good Faith in
Contractual Performance in Australia (pp. 197-225). Palgrave Macmillan, Singapore.
Anastasi, A., Hayward, B., & Brown, S. P. (2020). An internationalist approach to interpreting
private international law?: Arbitration and sales law in Australia. Melbourne University
Law Review, 44(1), 1-54.
Grossman, M., Gerrand, V., & Halafoff, A. (2020). Australia: Diversity, neutrality, and
exceptionalism. Routledge handbook on the governance of religious diversity, 296-308.
Lisk, J., & de Zwart, M. (2019). Watch this space: The development of commercial space law in
Australia and New Zealand. Federal Law Review, 47(3), 444-468.
Parker, D., & Ward, L. (2020). Business and Law in Australia. Thomson Reuters.
Saunders, C. (2019). Common Law Constitutionalism under a Codified Constitution. U of
Melbourne Legal Studies Research Paper, (863).
Stephenson, P. (2021). The High Court, the Constitution and the Rule of Law in the Australian
Communist Party Case. The Global Summit.
Taylor, G. (2019). The constitution and the common law again. Adel. L. Rev., 40, 573.
Viven-Wilksch, J. (2020). Good Faith in Contracts: Australia at a Crossroads. U. of Adelaide
Law Research Paper, (2020-92).