200756 Study Guide - Final Guide: Competition And Consumer Act 2010, Australian Consumer Law, Standard Form Contract
7 Aug 2018
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General: australian consumer law found in schedule 2 of competition and consumer act. 2010 (cth), which replaces trade practices act 1974 (cth): enforcement acc, asic, state fair trading agencies. Consumer contract void if: term is unfair, contract is in a standard form contract; and, re: asic act contracts for financial services. If it causes a significant imbalance in the parties" rights and obligations under the standard form contract. If it is not reasonably necessary to protect the legitimate interests of the party who would be advantaged by the term. Court will consider: relative bargaining positions, the preparation of the contract, the negotiation (if any) of terms, any special characteristics of either party. Acl as remedial smorgasbord" (mason p in akron securities v ilife (1997)). The acl permits compensatory orders and remedial orders to be made by the court: Damages ss 236(1), 237 and 238. Specific performance ss232, 237-239 and 243(f)(g) Remedies relating to consumer guarantees ss 51-57, 60-63, 259.
