Why do we have such principles in our commercial world

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Reference no: EM131933472

ASSESSMENT DESCRIPTION:

This essay will be designed to test the student's research skills and deal with a practical real life scenario in a Business Law context. The student will need to be aware of and have a good knowledge of the business regulatory environment.

The Question

Unconscionability and how it may mean a contract cannot be enforced.

Unconscionability can mean many things and may arise from a number of circumstances. In your essay you are to explain and comment on the following as a result of your reading:

The concept of unconscionability and why it may mean that a contract is not enforceable.

What are the leading cases on this? Why do we have such principles in our commercial world?

What are the characteristics of an unequal bargain that must or might be demonstrated to indicate unconscionability? Refer to appropriate cases.

Is there any legislation which similarly supports the principle that a contract may be so unfair that it is unenforceable?

What has been the effect on Banks and some larger institutions regarding the courts reluctance to enforce agreements that appear to be unfair or unequal?

From your reading is there any interesting commentary on unfair agreements and the attitude of courts when deciding on the enforceability of a contract?

What is the role of consumer advocate groups regarding unfair agreements, eg the Financial and Consumer Rights Council (FCRC) - Victoria? Did your research reveal any similar bodies or advocacy groups? Have there been any particular issues within Australia that you would characterise as unconscionable behaviour by vendors, companies or any other institutions?

Expectations

Students are to read text books, cases, search the internet for articles and commentary, and to follow the guidance of the lecturer in their research and reading.

Ensure your name and student number is clearly visible on your assignment.

Keep a copy of your work for your records.

Expression is important, and students should ensure that their essay displays appropriate clear expression and presentation.

Students must reference materials appropriately (statute and case law), and ensure that any materials that are cited, quoted or referred to, have appropriate attribution (ie footnoted and with adequate indication of the use of any author's work). We will do some work on this
in class.

Each presentation must be individual work and students must not copy another student's work, or cut and paste work from books or the internet. Please be aware that plagiarism (the copying of someone else's work) is not acceptable in any professional practice.

Please ask your lecturer for assistance if you are unsure about an aspect of this assessment.

Reference no: EM131933472

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