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Questions and Answers
What defines statute law?
What defines statute law?
Which of the following is a characteristic of criminal law?
Which of the following is a characteristic of criminal law?
What is meant by 'freedom of contract'?
What is meant by 'freedom of contract'?
Which example best illustrates common law?
Which example best illustrates common law?
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What defines a unilateral contract?
What defines a unilateral contract?
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Which of the following is NOT a required element for a contract to be legally binding?
Which of the following is NOT a required element for a contract to be legally binding?
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What is an example of administrative law?
What is an example of administrative law?
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What does consideration in a contract mean?
What does consideration in a contract mean?
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What distinguishes a formal contract from a simple contract?
What distinguishes a formal contract from a simple contract?
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What is the primary role of law in society?
What is the primary role of law in society?
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In what situation would civil law primarily apply?
In what situation would civil law primarily apply?
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What is a characteristic of standard form contracts?
What is a characteristic of standard form contracts?
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What is meant by the term 'frustration' in contracts?
What is meant by the term 'frustration' in contracts?
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Which of these is considered a breach of contract?
Which of these is considered a breach of contract?
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Which of the following best describes civil law?
Which of the following best describes civil law?
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What legal remedy might a business seek for a supplier's breach that caused financial loss?
What legal remedy might a business seek for a supplier's breach that caused financial loss?
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Which scenario describes a discharge of contract?
Which scenario describes a discharge of contract?
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What are liquidated damages?
What are liquidated damages?
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Which element is essential for a contract to be enforceable?
Which element is essential for a contract to be enforceable?
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Negligence in the context of contracts refers to what?
Negligence in the context of contracts refers to what?
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What distinguishes statute law from common law?
What distinguishes statute law from common law?
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Which scenario typically falls under civil law?
Which scenario typically falls under civil law?
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What is an example of a criminal offense?
What is an example of a criminal offense?
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Which of the following is characteristic of administrative law?
Which of the following is characteristic of administrative law?
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Which best describes a simple contract?
Which best describes a simple contract?
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What is a key principle of freedom of contract?
What is a key principle of freedom of contract?
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What is a feature of standard form contracts?
What is a feature of standard form contracts?
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What is a key difference between formal contracts and simple contracts?
What is a key difference between formal contracts and simple contracts?
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In which scenario would a corporation most likely invoke the Corporations Act 2001?
In which scenario would a corporation most likely invoke the Corporations Act 2001?
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What is a bilateral contract?
What is a bilateral contract?
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Which statement inaccurately describes criminal law?
Which statement inaccurately describes criminal law?
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What characterizes a unilateral contract?
What characterizes a unilateral contract?
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Which of the following is NOT an essential element of a legally binding contract?
Which of the following is NOT an essential element of a legally binding contract?
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What does consideration refer to in a contract?
What does consideration refer to in a contract?
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What does discharge of contract mean?
What does discharge of contract mean?
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How is breach of contract defined?
How is breach of contract defined?
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What are liquidated damages?
What are liquidated damages?
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What does frustration mean in the context of a contract?
What does frustration mean in the context of a contract?
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Which of the following describes negligence in a contractual context?
Which of the following describes negligence in a contractual context?
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What are remedies for breach of contract?
What are remedies for breach of contract?
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Study Notes
Law
- A system of rules established by a society to regulate conduct and ensure order.
- Laws protect people from unfair practices like fraud by establishing standards and consequences.
Australian Legal System
- Framework of rules and principles based on British law, governing Australia.
- Australian laws are based on statutes (parliament-made) and common law (judge-made decisions).
Statute Law
- Laws created by Parliament, called Acts.
- The Corporations Act 2001 regulates company operations in Australia.
Common Law
- Law developed by courts through decisions in individual cases.
- Common law principles, like duty of care, stem from previous court decisions and set precedents.
Criminal Law
- Law that deals with crimes against society and government-enforced penalties.
- Theft and assault are criminal offenses with penalties like fines or imprisonment.
Civil Law
- Law governing private disputes between individuals, organizations, or government agencies.
- Contract disputes between businesses are resolved through civil law.
Administrative Law
- Law that controls the decisions and actions of government agencies.
- Challenging a government department's decision about a license would fall under administrative law.
Contract
- An agreement between parties that creates legally enforceable obligations.
- Buying a car involves a contract where the buyer agrees to pay, and the seller agrees to transfer ownership.
Freedom of Contract
- The idea that parties can agree on contract terms without government interference.
- Businesses can set their own terms in a contract unless restricted by law.
Standard Form Contracts
- Pre-prepared contracts with set terms, used for efficiency.
- Standard contracts are used for routine transactions, like mobile phone service agreements.
Formal Contract
- A contract with specific legal formalities, like a deed.
- Property deeds are formal contracts that must be signed and witnessed to transfer ownership.
Simple Contract
- An informal contract made orally or in writing without strict formalities.
- Hiring a plumber for repairs through a verbal agreement is a simple contract.
Bilateral Contract
- A contract where both parties have obligations at the time it’s made.
- A job contract where an employee promises to work, and the employer promises to pay.
Unilateral Contract
- A contract where only one party has an obligation if a condition is met by the other party.
- Offering a reward for a lost pet’s return is a unilateral contract; payment is made only if the pet is found.
Elements of a Contract
- Requirements for a legally binding contract, including offer, acceptance, consideration, and intent.
- A contract without mutual intent to form a legal relationship isn’t enforceable.
Consideration
- Something of value exchanged in a contract.
- Paying $10,000 for a car is the consideration the buyer provides in a sales contract.
Discharge of Contract
- Termination of contractual obligations.
- Completing all terms of a service contract discharges the agreement
Performance
- Fulfilling contractual obligations as agreed.
- A contractor completing a building project according to plans is performing the contract.
Frustration
- A contract is frustrated when unforeseen events make performance impossible, releasing both parties.
- If a venue is destroyed by fire, a contract to hold an event there is frustrated.
Breach of Contract
- Failure to fulfill contract obligations.
- Not delivering goods by a specified date is a breach of contract.
Remedies for Breach
- Legal ways to address a breach, such as damages, rescission, or specific performance.
- A business may claim damages for a supplier’s breach that caused financial loss.
Liquidated Damages
- Pre-determined compensation for contract breaches.
- A clause in a building contract sets a daily charge if the project is delayed.
Negligence
- Failure to exercise reasonable care, resulting in harm.
- A company could be negligent if it doesn't fix a safety hazard that injures an employee.
Australian Legal System
- Rooted in British law
- Based on statutes (Parliament-made laws) and common law (judge-made decisions)
Statute Law
- Created by Parliament, also known as Acts
- Example: The Corporations Act 2001 governs company operations in Australia
Common Law
- Developed by courts through decisions in individual cases
- Principles, like duty of care, come from past court decisions and set precedents
Criminal Law
- Addresses crimes against society and government-enforced penalties
- Example: Theft and assault are criminal offenses with penalties like fines or imprisonment
Civil Law
- Governs private disputes between individuals, organizations, or government agencies
- Example: Contract disputes between businesses are resolved through civil law
Administrative Law
- Controls the decisions and actions of government agencies
- Example: Challenging a government department's decision about a license would fall under administrative law
Contracts
- Agreements between parties that create legally enforceable obligations
- Example: Buying a car involves a contract where the buyer agrees to pay, and the seller agrees to transfer ownership
Freedom of Contract
- The ability of parties to agree on contract terms without government interference
- Businesses can set their own terms in a contract unless restricted by law
Contract Types
-
Standard Form Contracts: Pre-prepared contracts with terms set in advance, used commonly for efficiency
- Example: Standard contracts are used for routine transactions, like mobile phone service agreements
-
Formal Contract: A contract with specific legal formalities, like a deed
- Example: Property deeds are formal contracts that must be signed and witnessed to transfer ownership
-
Simple Contract: An informal contract that can be made orally or in writing without strict formalities
- Example: Hiring a plumber for repairs through a verbal agreement is a simple contract
-
Bilateral Contract: A contract where both parties have obligations at the time it’s made
- Example: A job contract where an employee promises to work, and the employer promises to pay
-
Unilateral Contract: A contract where only one party has an obligation if a condition is met by the other party
- Example: Offering a reward for a lost pet’s return is a unilateral contract; payment is made only if the pet is found
Elements of a Contract
- Requirements for a contract to be legally binding, including offer, acceptance, consideration, and intent
- A contract without mutual intent to form a legal relationship isn’t enforceable
Consideration
- Something of value exchanged in a contract
- Example: Paying $10,000 for a car is the consideration the buyer provides in a sales contract
Discharge of Contract
- Termination of contractual obligations
- Example: Completing all terms of a service contract discharges the agreement
Contract Termination
-
Performance: Fulfilling contractual obligations as agreed
- Example: A contractor completing a building project according to plans is performing the contract
-
Frustration: A contract is frustrated when unforeseen events make performance impossible, releasing both parties
- Example: If a venue is destroyed by fire, a contract to hold an event there is frustrated
-
Breach of Contract: Failure to fulfill contract obligations
- Example: Not delivering goods by a specified date is a breach of contract
Remedies for Breach
- Legal ways to address a breach, such as damages, rescission, or specific performance
- Example: A business may claim damages for a supplier’s breach that caused financial loss
Liquidated Damages
- Pre-determined compensation for contract breaches
- Example: A clause in a building contract sets a daily charge if the project is delayed
Negligence
- Failure to exercise reasonable care, resulting in harm
- Example: A company could be negligent if it doesn't fix a safety hazard that injures an employee
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Description
Explore the fundamental aspects of the Australian legal system, including statute law, common law, criminal law, and civil law. Understand how laws are created, regulated, and enforced in Australia to protect citizens and maintain order. This quiz delves into the principles underlying legal standards and the role of the courts.
