Introduction to the Australian Legal
TABLE OF CONTENTS
What is Parliament?
Structure of Parliament
Consumer Law Part 2
Silence is not misrepresentation and invitation to treat under common law. Thus common
law has a lot of holes. Therefore consumer protection law covers it by bait advertising.
Standards, Bans and Recalls
Common law and now consumer pro
Introduction to Business Law Lecture 6 Law of Negligence (not relevant to assignment)
When you get compensation for an injuries that have occurred to you. E.g. unknowingly
slipping on spilt milk at a supermarket and breaks their arm. (Negl
Companies formed before 1 July 1998 would probably have a
memorandum and articles of association.
Only public companies are required to lodge their corporate
constitutions. ASIC may require a copy of the corporate constitution from
CORPORATE FINANCIAL MANAGEMENT EXAM REVIEW
TIME VALUE OF MONEY:
What is the expected rate of return earned over a year if you pay $10 for a share of ABC
Corporation Ltd at time 0 and it pays a $0.50 (annual) dividend and is worth $11.50 one year
MANAGEMENT DYNAMICS NOTES
INTRODUCTION TO ORGANISATIONS & MANAGEMENT:
CHARACTERISTICS OF ORGANISATIONS:
CHANGING NATURE OF ORGANISATIONS:
INTRODUCTION TO BUSINESS LAW NOTES
INTRODUCTION TO LAW:
What is it?
- We need to be specific when refer to 'the law' as there are two types of law in
CASES, also called judge-made law or common law.
These are also known as a
CHAPTER 8: PARTNERSHIP QUESTIONS
1. There are two methods of accounting for equity in a partnership referred to in the text,
method 1 and method 2; these are:
variable and fixed capital balances methods.
equal and unequal profit sharing methods.
SECTIONS AND CASES
CHAPTER 2 ASIC ACT
S1 (2) (role of the act)
Maintain, facilitate and improve the performance of the financial system
Promote the confident and informed participation of investors and consumers
Administer the laws
The Australian Securities and Investments Commission (ASIC) was
established in 1980 as the corporate watchdog also known as the National
Corporations and Securities Commission (NCSC). In 1991, the NCSC was
replaced by the ASC then rena
A sole trader is the person carrying on business as an independent
individual. Business is owned and controlled by only one person and
enjoys all the profits and is directly liable for tax or income earned.
No formal est
The term promoter does not have a fixed definition. Its not a term of law
but rather one of business (Whaley Bridge Calico Printing Co v Green
This is deliberate and ensures flexibility so as to capture a wide range of
CHAPTER 7 Corporate Liability
What is the significance of s 124 of the Corporations Act?
S124 states that the company has the legal capacity of an individual both in and out
of the jurisdiction.
Meaning that a corporation is capable of legally engaging in
CHAPTER 3 BUISNESS STRUCTURES
1. How are partnerships created? How are they defined under the Partnership Act and
what is the maximum size of a commercial partnership?
Based on the understanding between the partners (express or implied) to work
Modern company law in Australia and in other countries rests on the
legacy of the foundational legal principle recognized in the leading case of
Salomon v Salomon & Co Ltd (1897). This case is authority for the
legal principle that an
Chapter 5 Incorporation and its effects
1. Explain the significance of the decision in Salomon v Salomon & Co (1897) AC 22
Salomon was a sole trader with a boot manufacturing business for over 30 years.
Recently sold business to a limited company he forme
FTA (nsw) - T.P.A, Consumers and competition act, 2 sch - ACL
Some things in Common Law can be over rules by statute law
Must involve consumer. Therefore doesnt cover between 2 businesses.
Based on latin caveat emptor let the buyer beware
Introduction to Business Law notes Australian Legal System
Aboriginal peoples have been living in Australia for the past 40-60,000 years.
Whereas European settlement only occurred in 1788.
The 3 legal systems existent on Australi
QUESTION 1 - 750 WORDS
I have been asked to advise Dorothy whether she has a binding contract for the sale of Gum Leaves
with either/neither or both of Lionel and Brian. An invitation to treat has been made as she tells her
children her intentions and soo
Business and Law Schools
Electronic Undergraduate Handbook 2015
University of Western Sydney
Copyright 2015 University of Western Sydney
Units, courses, and arrangements for courses as stated
in the postgraduate and undergraduate electronic
Introduction to Business Law - 200184
Spring Semester 2015
FINAL EXAM FORMAT AND INFORMATION
What: During the scheduled exam period all students will be required to sit
the prescribed examination for this unit. The exam constitutes 50% of the final
Carlill v Carbolic Smoke Ball Co (1893)
o Company offered 100 to anyone who used it correctly, yet still contracted the flu
To show the promise was firm, they deposited 1000 pounds into a bank account
Ms Carlill went to receive her 100 - Carboli
Advantages of a sole trader includes
There is no legal requirements needed to establish the business
Full control of the business
Entitled to all profits of the business earnings
Disadvantages of a sole trader include
Dealing with consumers
Consumer protection regulation
Most of the rules regulating advertising and selling to consumers are now found in
the Australian Consumer Law (law regulating consumer protection in AUS)
The ACL is set out in schedul
Australian law part 1
Law and life
Law and personal life
Law does not regulate all aspects of an individuals personal life.
When purchasing a good you are signing a contract to the business that you are purchasing
that good of
Contract- an agreement which
AUSTRALIAN LAW PART 2
The Australian constitution
British colonies united into a single nation under the Australian constitution
Structure of the constitution (refer to P.49)
Federal and state relations.
The constitution sets out how legislative power i
Australian law protects and preserves competition by prohibiting certain forms of anticompetitive conduct.
Regulated by the consumer and competition law 2010 (cth)
Important changes to competition regulations in Australia:
A person who acts on behalf of another in dealing with a third party is an agent and the
person they're acting for is a principal.
Third party- a stranger to a transaction or relationship
Agent- a person who acts on behalf of a principal wh
CONTRACT LAW PART 1
A contract is an agreement between 2 or more people that is legally enforceable.
There are three requirements that must be met before establishing a contract.
There must be an agreement between the parties, the parties must h
INTRODUCTION TO BUSINESS LAW (200184), SPRING SEMESTER 2015
PROBLEM SOLVING ASSIGNMENT (Assessment 2)
This document consists of three (3) pages including this page.
There are three (3) questions and all questions must be answered. This assess