Fundamentals of the Australian Contract Law - Assignment Example

Fundamentals of the Australian Contract Law Students Name Institution Affiliations Date Fundamentals of the Australian Contract Law Introduction Question one In this case study majorly focuses on the contractual obligations set between parties and its enforcement in their work. So, as contracts defines the state of two parties being in agreement under which failure to adherence on the contracts leads to severe penalty as stated by the law. In Jimi’s contract with Rollinstone which is considered to be valid and enforceable now brings us to a close misunderstanding between the two parties which now leads to one party being under threat of being penalized if the work will not have come into completion within the stated time. In this case Jimi has no cause to be treated that since the problem was not with him. As such, in this case study Jimi is going to be advised on his legal rights that ought to be implemented by the law. The first contract law covers the enforceability of the clause requiring referent to arbitration1. This statement explains the importance on where any clause in contract needs a party to refer to arbitration to any disputes that arise in order to make such clause to be valid. Therefore, in this case Jimi needs to find an arbiter so that his contract with Rollinstone may be solved and disputed2 . This is important because it will help Jimi and Rollinstone understand the root of the problem. In this case, they will be able to come into an agreement which will cause them either terminate the contract in respect with their agreement or either continue with the contract upon terms and condition that will be put upon. Nevertheless, the legal right might have some limitation which will otherwise again bring in some disagreement between the two parties3. This can be brought about when the arbiter was a close friend of another party and he does not want to be disappointed by him, now this makes him to over rely on one party hence bringing dissatisfaction in the other party. This results to injustice according to the Australian industrial court of law4. Secondly, mistake of the fact, which now talks on the belief of the existence of various facts which sometimes changes without the knowledge of either party 5. In this case, Bob who happens to be the assistance electrical manager, employed even after failing in his apprenticeship exam changes the fact in which Jimi and Rollinstone were used to. Consequently, making Rollinstone, who is supposed to accomplish any order made by Jimi to seek other alternatives which were not agreed upon, this now results to Jimi paying a fine of $1000 up – front6 . Bob was sent to Jimi in order for him to give advice and after that he took recommendation which were impossible to be carried hence making Rollinstone to order other switches in Asia and to add on it, a specialist electrician will have to be employed in order to do that work. Since it wasn’t Jimi’s action it much prudent for Jimi to find justice in the court by providing evidence that what Rollinstone was given by Bob was not his recommendation and therefore the court to consider his appeal. Though, Jimi going to the court and appealing against the mistake of the fact may have some limitation if Jimi lacks some evidence to prove that what Bob took for recommendation was not made by him. This will now force the Australian industrial court of law to either consider the case being withdrawn upon agreement or either Jimi to be fined for providing wrong information on accusation of the other party. Termination for failure of contingent condition, this is brought by when the parties may otherwise make the performance of their contractual obligation in occurrence of a specified event that none of the parties promises to ensure will happen at a particular time. Consequently, Jimi’s case when Bob gives out wrong recommendation to Rollinstone about the offer it now makes Rollinstone to terminate the offer and seek other alternatives in Asia and even employing a specialist to come and do the job since the job was not as to how they had agreed. It wasn’t Jimi’s fault on Bob submitting wrong recommendation on the offer and so it is right for Jimi to report the case to Australian industrial court of law in find of his justice. Though this act may have a limitation if Bob denies the fact of giving wrong recommendation and claim to be a true report then Jimi may not find the justice that he is looking for. Conclusion In conclusion, I would sum up that, its Jimi’s legal rights to first consider finding the arbitrator who will solve any disputes that may have arose in their contractual agreement between him and Rollinstone. Besides that, so that justice may be prevailed it is very important for the Jimi’s case to be taken under great consideration in the Australian court of law. Question Two a) The differences between real and personal property In legal terms when describing about property it is important to understand that there are two types of property which include real property and personal property. This property is differentiated as in the following ways. Real property is majorly defined as anything that is beneath the earth surface and even the areas above the earth surface, the land developments on the land which include the buildings, house and structures7 . Anything that is beneath the earth surface includes: oil, soil, gold minerals that maybe in the soil and anything above the earth surface majorly entails the air and sky above the land. Now the sky, earth and structures bring everything into meaningful definition of real property. Besides that, we can also deduce that real property can sometimes be considered to be an ownership or right that someone can hold for easement and right – of – ways8. In this case, this can be a drive way that can be used as a short private road that can be shared between you and your neighbors. While real property is the type of property which is immovable, personal property on the other hand majorly deals with property which movable9 . For example, one can select your personal property and travel with it to where you may wish to go with it 10. Personal property may be considered as things like, investments, household good or any other thing that you can move with it. In this kind of property an individual is credited as awning that particular item for example cars, bicycles etc. while in other cases for example in household goods an individual is credited to have possessed that particular item by provision of receipts or bill of sale of the purchase. b) The Difference in the Nature and Scope of Claims Supported Under the Lands Registration System as Opposed To the PPSA In this study, practical problems caused by the personal property Securities Act are greatly explained. Specifically, the differences made in the nature and scope of claims supported under the lands registration. This is significantly brought by introduction of the new regime, overview of the new regime and others that might be discussed. Introduction of the new regime This is brought by two acts which bring out the federation of Australian government which changed the laws regarding ownership of property and interest in it. The two acts include the personal property securities Act 2009 (Cth) (the PPSA) and the personal property security (consequential amendments) Act 2009 (Cth) 11. To start with it basically indicated that in section 243 of PPSA gives out a general description that the constitutional basis for its regime in the referring states and in non-referring states and the territories and how it intends to work in all areas to the extent available, for example in referring states and non-referring states based on s 51(xxxvii) of the constitution and many others. All states came into a conclusion and passed the version of the personal property security (commonwealth powers) and thus the whole of Australia use it as one of the law. This scope becomes significant since 77 commonwealth and state act has been replaced and 30 commonwealth, states and territory agencies have been affected. Overview of the regime The personal property security act it now changes the interest in property in Australia since it now regulates the process of creation, registration and enforcement of securities in personal interview12 . This majorly involves personal interview which significantly outlines the property owned by an individual and can be picked and travelled with and it excludes the land and with other excluded property. As also considered in security interest which contains two contains two elements which is a law to all security interest that guarantees them of secured property and secured money. The personal property security act concerns majorly with personal property in which there is always of guarantee of security interest of secured property and secured money. The personal property security act concerns majorly with personal property in which there is always of guarantee of security interest. This helps individual to know of thee level if security offered in the Australia. Generally, personal and real property brings out a greater difference that an individual can awn for example land, buildings for real property and motor vehicles, bicycles and many others in personal property References Andrews, N. (2015). Contract law. Cambridge University Press. Chan, L. H., Chen, K. C., Chen, T. Y., & Yu, Y. (2014). Substitution between real and accruals-based earnings management after voluntary adoption of compensation clawback provisions. The Accounting Review, 90(1), 147-174. Ireland, P. (2013). Property and contract in contemporary corporate theory. Legal Studies, 23(3), 453-509. Issacharoff, S., & Eagles, T. (2015). Australian Alternative: A View from Abroad of Recent Developments in Securities Class Actions. UNSWLJ, 38, 179. Jondle, R. J., Hill, K. K., & Sanny, T. (2015). Current legal issues in intellectual property rights and protection for crop plants. 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