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Business & Corporations Law Assignment

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Added on  2020-09-17

Business & Corporations Law Assignment

   Added on 2020-09-17

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Business &Corporations Law
Business & Corporations Law Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1A).................................................................................................................................................1B).................................................................................................................................................2C).................................................................................................................................................2D).................................................................................................................................................3E)..................................................................................................................................................3REFERENCES................................................................................................................................5
Business & Corporations Law Assignment_2
INTRODUCTIONAustralian Consumer Law (ACL) have framed many rights and obligations of consumerswhen purchase or sell of goods take place. This law applies to nationality and in all states andterritories even to Australian businesses also who deals in trading of goods and services. Theprotection which generally reflected in similar provision in Australian Securities and InvestmentsCommission Act (ASIC), in order to treat all goods and services in same way (Hylton, 2013). Inthis report, case study on Chong and Jason has been explained in context of selling of goods andmisleading of information. TASK A)Issue: Chong had purchased the truck from Jason of $55K and he enclosure a clause intopurchase agreement which is relinquishing his defence under Australian Consumer Law. After apoint of time he found that oil was leaking from truck and he want to recover the amount fromJason. But Jason pointed out that he is not consumer under ACL because cost of truck is morethan $40,000.Rule: According to provision of Australian Consumer Law a person or a business will beconsidered as consumer if they are coming under following conditions:They purchase the products or services where cost of there is not more than $40,000.Purchase of goods and services is more than $40,000, but they are ordinarily acquired fordomestic, household or personal use or consumption. Goods are used for commercial road vehicle which principally used to transport productson public roads. Application: In given case, Chong was a person who had purchased the truck for hisconstruction business. As per according to Australian Consumer Law, he is not considered asconsumer because he has also not fulfilled following condition. Purchase price of truck is more than specified limit i.e. 55,000. He had purchased the vehicle but not for ordinary purpose for domestic, personal use orhousehold consumption. Truck was not used for commercials road purpose. 1
Business & Corporations Law Assignment_3

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