Case Study Business Law And The Federal System Of...

Unit Name: Business Law Year: 2014 Trimester: 2 Location: VU Sydney Prepared by: Robert Alvarez Unit Code: BLO1105 Unit co-ordinator: Name: Robert Alvarez Location: Footscray Park - Room A339f Contact number: (03) 9919 5147 Contact email: Robert.Alvarez@vu.edu.au Teaching team: name: Carlo Soliman Email: carlo.soliman@vusydney.edu.au Student name: Mohamad AL Masri Student number: 4362369 Australia operate under a federal system of government. Essentially this means there is a division of law making power between the central government and state governments. This system was created by the†¦show more content†¦Equity, the law of fairness and good conscience developed to provide fairness in those cases where the common law was simply unable to do so. Under the law of Australia there is a very important part called the contract law. One of the six necessary elements of the contract is agreement (offer and acceptance) should be exist to inter into leagally binding contract. A contract is an agreement between two or more parties that the law recognises and will enforce in necessary. Contracts are essential to commerce and business and are also a fundamental part of our daily lives.Businessess inter into contract individuals, other businesses and governments to by and sell goods, services and intellectual property. Contracts can be written, verbal, express or implied. now many of the contract we enter into are verbal, because of this, many people are often unaware they are entering into legally biding contracts. many of the common law principles upon which contract law is based were developed in the 19th centuty, one of the principles that People intering a contract should have the right to include in it whatever they wish to negotiate the best possible bargain, complete freedom to contract. However, as modern life become more complex, it has become evident that not everyone has full and free options when entering into a contract, practical exemple of thi s include our dependence on services such as plumpedwater supplies, electricity