Report on Unilateral and Bilateral Contracts of Consumer Law
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Added on 2020-06-05
Report on Unilateral and Bilateral Contracts of Consumer Law
Added on 2020-06-05
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Consumer law
Advising MartinLaw of contract itself indicates the importance of adhering to certain legal terms andconditions stated in a contractual agreement among two or more parties. It is basically anintended arrangement among two or more parties where this procedure is duly enforceable bylaw. A contract law thus shows a lawful binding among the parties who have decided to get intoan agreement. Although, there exists various type of contracts with a distinct nature of all andtogether exists with certain enforceable clauses which is, specially to give it a legal alignment1.Mainly there are two different type of contracts, on considering the formation of an agreementwhich involves express and implied contracts. Express contracts are those which exists on thebasis of some expressively spoken or written terms. This is for instance to state about a personselling his house at a certain amount and another person accepts to buy it within an agreed value,with or without bargaining other related terms2. However, another type of contract namelyimplicit contract relies on implied terms where one can relate to a very general instance of apassenger sitting in the seat of a bus after buying its ticket. This together shows an agreedcontract among the bus chauffeur and the traveler.Nature of consideration is referred to be yet another considerate aspect, on whose basis,there exists bilateral and unilateral contracts where a bilateral contract seemingly involves twodistinct parties like a seller and a buyer intentionally getting into a contractual agreement3.However, in unilateral contracts, there is a singly directed agreement where one is intended tomake an offer with no assurance of acceptance by another party. For example, an advertisement1Cuniberti, G., 2013. The international market for contracts: the most attractive contractlaws.Nw. J. Int'l L. & Bus.34. pp.455.2Knapp, C.L., Crystal, N.M. and Prince, H.G., 2016.Problems in Contract Law: cases andmaterials. Wolters Kluwer Law & Business.3Taylor, D. and McNamara, N., 2014. The Australian consumer law after the first three years-isit a success?.Curtin Law and Taxation Review.1(1). pp.96-132.
in the newspaper, etc. Next is on the basis of execution where there exist executed and executorycontracts. Lastly, there exists a concerning aspect of validity, on whose basis, there exist total 5distinct type of contacts, namely, valid, void, voidable, illegal and unenforceable.Contractual elements thus play an important role, on whose basis, a legally bindingcontract gets framed. There exists total 6 such elements, namely, offer, acceptance, consideration,mutuality of compulsion, capability and a written instrument, which depends upon the agreedterms of the contract4. Any violations in the contractual terms leads into a breached contractwhich means any of the prespecified conditions have not been met or fulfilled and ratherdishonored. In such case, any of the involved parties may intend to impose on the prescribedterms or consider recovering any financial harm, etc. Considering this, there are certain remedialmeasures undertaken by the law to resolve such pertaining issues of contractual breach. Theseare damages, specific performance and restitution or cancellation. The present essay is based on the terminologies of Australian Consumer Law or ACLwhere it is together based on 6 principal clauses. It is on considering its foremost section thatcovers normal form customer along with the contracts of small businesses. Another divisionstates about its guaranteed protection of consumer rights at the time of purchasing products andservices5. Its third clause has together reflected it to be a nationwide law guaranteeing productsafety and implementation scheme with certain legal clauses that takes care of unsolicitedconsumer agreements that covers telephonic and door to door sales, etc. It together involves4The application of the Australian Consumer Law to B2B transactions. 2017. [Online].Available through: <https://www.holdingredlich.com/competition-consumer/the-application-of-the-australian-consumer-law-to-b2b-transactions>.5Yip, M. and Goh, Y., 2017. Convergence between Australian common law and Englishcommon law: The rule against penalties in the age of freedom of contract.Common Law WorldReview.46(1). pp.61-68.
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