Principles of Business Law (BLAW10001) H1 cheat sheet, Study notes of Law

Download Principles of Business Law (BLAW10001) H1 cheat sheet and more Study notes Law in PDF only on Docsity!      Table of Contents  Week One 4  Topic One: Organisation of Law 4  Legal vs non-legal rules 4  Who makes the law? 4  Legislatures 4  Australian Federal System 4  Courts 5  Categories of law 5  Business Law 6  Topic Two: Sources of Law - Legislation 6  Law-making bodies in Australia 6  How a bill becomes law 6  Identifying Legislation 7  Interpreting Legislation 7  The Presumptions 8  Week Two: Case Law 9  Basic Procedure 9  How do judges make law? 9  Precedent doctrine 9  Common-Law v Equity 9  Week 3: Contract Formation 10  Why are contracts important? 10  Objective approach 10  Executory/Bilateral vs Unilateral Contracts 10  Capacity to Contract 10  Formation Requirements 10  Privity of contract 11  Week Four: Terms of a Contract 12  Terms of a Contract 12  Freedom of Contract 12  Different Types of Contracts 12  Expressly agreed terms 12  Implied terms 13  Week Five: Terms of a Contract (continued), Performance and Breach 14  Terms implied by Statute 14  Performance & Breach 15  Discharge by performance 15  2       Breach of contract 15  Contractual Interpretation 15  Kinds of breaches 15  Performance of divisible contracts 15  Frustration 16  Week Six: Remedies for Breaches 17  Common Law remedies 17  Equitable remedies 18  Statutory remedies 18  Agreed remedies 18  Week Seven: Invalidating Contracts (vitiating factors) 19  Invalidating a transaction 19  Affirmation 19  Duress 19  Undue Influence 19  Unconscionable Dealing 20  Third-Party Unconscionability 20  Mistake 20  Misrepresentation 21  Illegality 21  Week 9: Australian Consumer Law 22  The need for Consumer Protection Laws (Statutory) 22  Section 18, Misleading Conduct 22  Section 20 & 21, Unconscionable Conduct 22  Unfair contract terms 23  Unfair business practices 24  Consumer Guarantees 24  Week Ten: Tort Law 26  Tort of Negligence 26  Week Eleven: Agency 28  Concept 28  Duties of the agent 29  Duties of the principal 29  Ending an agency relationship 29        3       ● Imposing liability for harm wrongfully caused  ■ Contract law  ● Allows for the creation and enforcement of legally binding rights and  obligations  ■ Agency  ● Allows for the use of a representative to acquire or discharge legal rights  ■ Consumer protection law  ● Offers legal protections for consumers  ■ Corporations law  ● Governs the creation, organisation and administration of companies  ■ Property law  ● Recognises enforceable rights in land, things and intangible property  Business Law  ● Selected rules of law that are of particular relevance to business activities.  Topic Two: Sources of Law - Legislation  Law-making bodies in Australia  ● Two major bodies with law-making powers  ○ The courts  ○ Legislature (parliament) and local government councils  ● The majority comes from legislation  How a bill becomes law  Before the Bill  ● Identify the need for a new law  ● Political processes  ○ Lobbying of the political parties  ● Development of specific proposals  Once the Bill is created  ● Passed by the legislature  ○ Both houses (if bicameral)  ○ The house the Bill is introduced in is the House of Origin (usually Lower House)  ○ The other house is the House of Review  Procedure in the House of Origin  ● Initiation  6       ○ Clerk lists the Bill for its first reading  ● First Reading  ○ Announced, the long title is readout  ● Second Reading  ○ Relevant Minister makes a speech  ■ Releases an Explanatory Memorandum  ○ Debate occurs  ○ Voting  ● Committee  ○ Optional - a committee considers the bill  ○ Typically for more contentious or complex Bills  ● Third Reading  ○ The title is read a third time  Procedure in the House of Review  Exactly the same as the House of Origin  Two possible outcomes:  ● Passed without amendments  ● Amended -> sent back to the House of Origin, which accepts or rejects the amendments (using  the same steps).  From Bill to Act  ● Royal assent  ○ Approved through the Queen’s representative (Governor-General)  ■ Bill becomes the law  ● Publication  ○ Published to the Government Gazette  ● Commencement  Identifying Legislation    Interpreting Legislation  How to ascertain the meaning of legislation if it is unclear  7