Legal Aspects Of Pre Registration Contracts

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A business has to undergo various legal procedures before it can become incorporated. Generally, as a rule, without these formalities the business cannot call itself a legal entity. Once the incorporation process is done the business can now have own separate legal existence and is allow to enter into contracts. But in some cases, the business might be forced to enter into a contract before it can be incorporated and due to this, they may face complications their legality and enforceability and may be also considered invalid later. These contracts are known as pre-registration contracts. In Australia there are two main legal bodies namely common law and statue which govern the business law operations in the country. Pre-registration contracts have different treatment under these two bodies. (Harris, Hargovan, & Adams, 2013)

1.1 Common Law
The common law was initially referred to in the past as the “Law of England” by some judges and legal writers. Section 80 of the Judiciary Act 1903 (Cth) had made it mandatory for courts, in some cases, to apply 'the common law of England '. This was later was amended in 1988 to known as 'The Common Law in Australia '. Although it was derived from the English common law, there have been a lot of revisions and additions made to it for it to meet the judiciary needs of the Australian legal system.
1.2 Statute law
Statute laws are legislations that have been passed through the parliament. The State Parliament and
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