Business Law Assignment: Australian Law, Contract, and Insurance

This business law assignment explores several key aspects of commercial law, focusing on Australian legal principles. It analyzes scenarios involving contracts, including issues of breach, exclusion clauses, and specific performance. The assignment delves into the concept of frustration of contract, outlining its consequences and discussing how parties can avoid it. It further examines consumer remedies for faulty goods, including damages, repair, replacement, and refunds. Finally, the assignment identifies and defines key terms in insurance law, such as policyholder and policy tenure, providing a comprehensive overview of these crucial concepts.

BUSINESS LAW

Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Question 1:..............................................................................................................................................3
Question 2:..............................................................................................................................................4
Question 3:..............................................................................................................................................5
Question 4:..............................................................................................................................................7
Question 5:..............................................................................................................................................8
CONCLUSION...........................................................................................................................................9
REFERENCES..........................................................................................................................................10

INTRODUCTION
Commercial law or contractual law is the entity regulating industry and trade which is
also viewed as a civil law division which works both with personal which public concerns
(Haugh, 2019). Trade act restricts the agreements for companies, the employing and production
and sale of consumer products. This project report is based on Australian law in which various
kinds of laws are described under five tasks.
MAIN BODY
Question 1:
In regards to above mentioned case, purchaser should not buy the land; this is so because
it is not as per the contract. As well as land is not suitable for cattle station.
Clear success implies, in real estate terminology, that either the purchaser or the seller decides to
close the deal under the terms of service agreed to in the selling contract. A purchaser who
wishes to force the intransigent party to fulfill that promise under terms now also agreed may
plead emergency order by seeking a court system to finish the sale. The court has, however, the
exclusive right to order a selling of real estate by particular results. Herein, below key
suggestions to purchaser are mentioned that are as follows:
 Damages for non delivery- Once the estate in the products has expired, the collector has
all the recourse as a holder against those who behave with the products in a way
incompatible with his interests, so that he is right to the absolute ownership. Furthermore,
if the seller re-sells them wrongly, he can prosecute the seller in trove, and even the first
buyer, since the clauses can reduce the rights against him. In the event of inability to
perform, the real calculation of liability at the point of the violation would be the
disparity between the selling price and the selling price. The consumer value of the
products implies "the interest on the consumer, regardless of the plaintiff's particular
circumstances (Bu, 2019). In the range of semi-payment, the date for deciding the harm
amount would be the day of the infringement, but in such a situation it may be argued
that the claimant did not have money in his possession and thus could not go into the

store to purchase; and in compliance with this principle it was decided at nisi pries that
the day of the court should be taken. Even so, a more realistic approach is that even in
this scenario the date of the infringement should be taken to compare the relationship
between the purchase price and the sell price, and the purchaser can restore that quantity
together with a benefit
 Specific performance- The section provides the buyer with a remedy, and provides the
vendor no qualitative right. Thus, it is only after the purchaser's demand when proceeding
as a claimant that the selling deal will be actually applied and the provision extends even
where the arrangement is to offer particular or ascertained products. It was held that a
vendor would not have the ability to impose the contract's particular value. Because it
attempts to deal with the scenario of a purchaser of various goods relating to a contract
for the supply of specific or concluded products.
Question 2:
In accordance of given case, this can be stated that Leyland motors, breached the contract. It is so
because they provided used car to the customers which was not under contract of sale.
Sales contract protections limiting or removing the seller's responsibility meet criteria as
"exclusion clauses." Exemption clauses are experiencing serious in many judicial systems and
international treaties, and are considered invalid in instances of vendor's gross blame, willful
carelessness or reckless conduct. The contract of sale includes below mentioned principles which
are as follows:
 Sales contract provisions restricting or excluding the liability of the retailer meet
requirements called "exclusion agreements." Exemption clauses are severe under certain
legal processes and foreign conventions and are found void under situations of excessive
negligence, intentional carelessness or irresponsible actions of the retailer.
 Another strategy would use the entire document to describe the rules laid out therein,
including any exemption clause.

 The other way would be to describe the contractual obligations, without regard to the
exemption clause. Where required, the exemption clauses would then be used as
defenses.
 To be eligible with an exclusion provision it has to be part of the deal. The judges have
drawn up a list of regulations to determine if it has been integrated into (produced part of)
the agreement or not.
 The paper bearing the exemption provision will be part of the legal agreement and not a
pure acknowledgment or payment acceptance (Dove and Bryant, 2019).
 The duration of the notice is extremely important for determining whether a notice period
of a phrase has been given. Before the deal is signed the exemption provision must be put
to the notice of the other side.
 The expression 'Forms Fight' applies to the case in which all sides decide to insert their
own traditional terminology into the deal. The courts' standard method is to examine this
in terms of offers and counter-offers, while many other approaches might be necessary.
 The courts also attempted to limit the usage and reach of exemption clause inserted into a
contract; especially when one side is considered to be in a poorer negotiating role.
 The provision specifies that where there is some uncertainty as to the significance or
nature of an exemption clause, the confusion towards the group attempting to depend on
the exemption clause will be overcome. It is the other side who gets the advantage of the
presumption.
Question 3:
What are the consequences at common law of frustration of contract?
Frustration of contract- Any contract frustrated is an agreement which is fully capable of being
exercised in view of an unexpected circumstance (or event, as a result of its creation, without
fault either of club and which radically differs between responsibilities in conformity with the
terms and the contractual parties.
Consequences at common law of frustration of contract:

However, it can be difficult to determine frustration because it does not apply to difficulty.
Hardness is not anger, even though serious. It is not a frustration that the method of executing an
agreement or the burden of productivity has been impacted by an incident or event occurs
without blame except if execution in conformity with the agreement is professional film
incredibly difficult, i.e. in the legal sense unfeasible. It reverts to the issue of the arrangement
being fundamentally different from what the parties envisage (Arnold, Beauchamp and Bowie,
2019). Below some key consequences are mentioned that are as follows:
 Event foreseen- There is also no frustration when the event concerned was foreseen or
might fairly have been expected by the parties. The justices' rationale from the above case
was that the contractor had the chance of skill shortages as the parties had the alternative.
If a specific clause in the contract outlines the effects of an incident, the participants
cannot say that the same occurrence has disrupted their undertaking.
 Avoiding frustration- Even apart from the conflict of contract is challenging to create,
writing contracts widely enough to extend to specific conditions or scenarios can assist
parties trying to prevent a deal being considered to be irritated. For instance, major force
clauses are used to prevent frustration in agreements. These are provisions that not bear
any party's fault but retain the presence of the agreement if predicates events happen.
Party leaders should allocate risks as far as able to prevent finding that a contract was
frustrated.
Example:
As a consequence of the dissemination of the COVID-19, negotiating partners continue to
determine that the level of force majeure or resentment has modified or eliminated contractual
responsibilities.
To decide if a power majeure condition applies to conditions emerging from COVID-19,
gatherings ought to look at whether the meaning of a power majeure occasion incorporates
wording, for example, 'irresistible infection', 'scourge', 'pandemic' or comparative. It is likewise
conceivable that COVID-19 could prompt the event of different occasions generally remembered
for a power majeure definition, for example, 'government activity', 'national crisis' or 'work
deficiencies'.

Question 4:
What remedies are available to consumers from the retailer of a faulty pair of sports shoes? What
conditions need to be met if a consumer wants to claim a remedy directly from the manufacturer
or importer of the faulty sports shoes?
In the case when a consumer gets faulty pair of shoes then he/she has below mentioned remedies
which are as follows:
 Damages- A customer may seek a damage which usually refers to the expense of fixing
or removing the products. They can also claim compensation for the damages caused by
defective goods. Although consumers acknowledge the products their only recourse
would be penalties.
 Repair or replacement- When a customer demands a modification or upgrade, this would
need to be carried out by the company within a reasonable period and without any
disruption for the user. When the expense will be significantly greater than the cost of
supply (or vice versa) the company will fail to fix the product (Hancock, 2019).
 Refund- A customer may ask for a refund in whole or in part. A company is entitled to
request evidence of payment (for starters, a credit card balance or a till receipt).
Customers are not forced to take credit notes unless the items are faulty or not as defined.
 Rejection- Consumers may refuse the goods and ask for their funds back, if they
complain within a timely manner.
So, these are the remedies which are available to customers if they get any damaged pair of
sports shoes.
Conditions:
 Time limit- A customer's period limit for making a lawsuit is six years. The date typically
runs from the deadline the products were sold, albeit some exclusion to this exists. The
fact that customers have five or six years to make an argument does not, in principle,
means that in reality all products will last that period.
 Consumers have to take the appropriate steps to lessen their loss. Of starters, they would
mention defects as early as possible, to make it harder for them to prove that at the point

of selling the products were actually faulty, and to avoid further degradation of the
product.
Question 5:
a) Identify the four (4) key terms in Insurance Law.
The Australian insurance law is susceptible to advert civil law but standardized rating the
Australian insurance sector and insurance agreements. Commonwealth government has the
right, in compliance with paragraph 51(xiv) (not State insurance) and (xx) (corporate power)
of the constitution act, to enact legislation in respect of insurance and insurance undertakings.
The main laws applicable are usually the Insurance Act 1973 and the Insurance Contracts Act
1984, but there are an amount of other laws enacted by the Member States , private and full-
blown jurisprudence, all forming the body of insurance law (Fleischacker, 2019). Below key
terms of insurance law are mentioned that are as follows:
 Policy holder
 Policy tenure
 Nominee
 Premium payment term
(b) From the four (4) key terms that you have identified, select two (2) from the four (4) terms
and briefly explain what those two terms mean.
 Policy holder- An insurance person with an insurance company is a policyholder.
The insurance clause deducts the policyholder for the additional expense of certain areas
of staying during the reconstruction of the house after a tragedy.
 Policy tenure- Based on the forms of life insurance coverage and terms, the insurance
duration will vary from 1 year to 100 years or a whole lifetime. It is also called a policy

term or policy length many times. The policy duration determines the duration of the
reportage of the threat.
 Nominee- A nominee is the person receiving the benefit in the event of the death of the
policyholder.
Summary: When the life insurance is purchased, the insurance company selects or gets to
nominate his / her democratic candidate. A partner, kids or mother or father is usually a
nominee.
 Premium payment term- The cumulative amount of years for the issuer of the contract to
compensate the fee is the insurance compensate duration. Of example, because insurers
avoid paying of premiums for a fixated period by turning the usual insurance plan into a
compensated policy then encourage the insured to have the insurance benefits (Bull and
Ridley-Duff, 2019).
CONCLUSION
On the basis of above project report this can be concluded that under business law a range
of rules and regulations are included that needs to be followed. In the first part of report
suggestions to buyer has been given as seller does not fulfilled the contract terms. While in the
further part of report, doctrine of frustration is mentioned in detailed manner. The end part of
report concludes about various kinds of term used in the insurance law.

REFERENCES
Books and journal:
Haugh, T., 2019. Modeling the Message: Closing the Knowledge Gap in Business Law and
Ethics Classes. Journal of Legal Studies Education, 36(2), pp.159-188.
Bu, Q., 2019. Reassess the law and ethics of heritable genome editing interventions: Lessons for
China and the world. Issues L. & Med., 34, p.115.
Dove, L.R. and Bryant, N.P., 2019. Welcome, Y'all! Introducing Legal Environment and
Business Ethics Courses with Paula Deen. Journal of Legal Studies Education, 36(2),
pp.189-211.
Arnold, D.G., Beauchamp, T.L. and Bowie, N.E., 2019. Ethical theory and business. Cambridge
University Press.
Hancock, J., 2019. Environmental human rights: Power, ethics and law. Routledge.
Fleischacker, S., 2019. The ethics of culture. Cornell University Press.
Bull, M. and Ridley-Duff, R., 2019. Towards an appreciation of ethics in social enterprise
business models. Journal of Business Ethics, 159(3), pp.619-634.