What are the common law rules regarding contracts

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Reference no: EM132511607

HI6027 Business and Corporate Law - Holmes Institute

Learning Outcome 1. Critically examine the main features of the Australian legal system;
Learning Outcome 2. Critically examine the foundations of Australian company law;
Learning Outcome 3. Critically discuss and apply contract and tort law in business circumstances;
Learning Outcome 4. Critically analyse the concept of corporate internal rules and management;
Learning Outcome 5. Critically discuss and apply the legal framework that regulates a company's dealings with outsiders;
Learning Outcome 6. Analyse the interaction between members' rights, directors' duties and corporate governance;
Learning Outcome 7. Analyse the procedures regarding external administration and winding up.

The questions to be answered are:

Question 1 Explain the distinction between Exclusive Powers, Concurrent Powers and Residual Powers, which are outlined in the Australian Constitution. Give an example of each power. ( maximum 300 words)

Question 2 You are in the train station waiting for your train to arrive. You see a vending machine from where you can buy snacks and chips for $3.50. Posted on the machine is a sign saying: "Property of XYZ Vendsolutions Pty Ltd". You insert the coins required into the machine and out comes a packet of chips. However, when you open the packet of chips, you find bits of plastic inside and you don't want to eat the chips. You want your money back.

Required:
With reference to the essential elements for the formation of a contract, explain:
a) Did you enter into a contract in this scenario? (maximum 500 words)
b) If your answer is yes, with whom did you enter a contract? (maximum 150 words)

Question 3 What are the common law rules regarding contracts entered into by infants, and when are such contracts valid, voidable or void? ( maximum 300 words)

Question 4 Explain the operation of the contra proferentem rule. Is such a rule defensible in today's business environment? ( maximum 300 words)

Question 5 In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services. Can Bryan sue Amina? Explain your answers in light of the principles learned on breach of contract. (maximum 500 words)

Attachment:- Business and Corporate Law.rar

Reference no: EM132511607

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