Prior to its amendment in 1986, the Trade Practices Act 1974 (Cth) was aimed at protecting corporations and big businesses against unfair trading. The amendment led to the incorporation of section 52A, which was then later "repealed in 1992 when sections 51AA and 51 AB were enacted to replace it. The new section did not really extend the law a great deal and only section 51AA contained anything new" .
"Section 51AB is an exact re-enactment of section 52A… it prohibits a corporation acting in trade or commerce, in connection with the supply or possible supply of goods or services to a person, from engaging in unconscionable conduct. It therefore applies specifically to consumer transactions."The amendment to the Trade Practices Act 1974
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As an intending shareholder in the company, she relied on the information given to her by Mr Freeburn, and acquiesced in his negotiating on behalf of them both in making arrangements for the credit facility and for the giving of the guarantee in connection with that facility. The appellant's case is that the creditor's duty to disclose to the surety unusual and unexpected features of the transaction between the creditor and the debtor extends, in circumstances such as those which existed in the present case, to the disclosure to one co-surety of adverse information acquired by the creditor concerning the financial worth or credit-worthiness of another co-surety. On the other hand the respondent submits that the duty does not go so far and that it is limited to the disclosure of unusual and unexpected features in the transaction which is the subject of the guarantee or in the relationship between the creditor and the debtor. Obelon was entitled to assume that the appellant was aware of Freeburn's financial position and that, being aware of it, she was prepared to enter into the guarantee. And, quite apart from the finding made by the primary judge, there is the circumstance that, generally speaking, a co-surety as well as the creditor may reasonably be expected to make his or her own inquiries
The paper will serve as a historical background overview of how the Federal Trade Commission Act (FTC) came into existence. The paper will also break down the key components for which the FTC covers, such as deceptive advertising, baiting and switching and consumer fraud. There will be examples
The Fair Trading Act of 1973 lined the way for the business of the OFT, which appropriately opened its doors on 1 November 1973. The legislation was adopted to protect consumers from being deceived or treated incorrectly by traders and to support fair and visible competition across all markets. The Act allowed the Director General of Fair Trading to control possible monopolies, to support competition, to make Orders and to seek assurances. John Methven was appointed as the OFT’s first Director
Your managing partner has handed you the Supreme Court of Queenslands’ decision in The Public Trustee of Queensland and Anor v Meyer and Ors [2010] QSC 291 and asked you to answer the following questions. You should assume you are answering questions for someone who has not read the case, so be sure to provide sufficient detail in your answers. You do not need to provide reference details for Part A of the assignment.
Moran had been provided with a complete list of her husband’s financial and property interests. Rudder, 217 P.3d at 195; Coward 582 P.2d at 834. The law governing this dispute, ORS 108.725 does not explicitly require a spouse to provide value figures with regards to their financial and property interests. Although, Ms. Moran did not possess the value figures with regards to the Mr. Moran’s financial and property interests she already possessed information required by law. Further, Ms. Moran’s business experience suggests that she could be reasonably expected to discover the value figures of Mr. Moran’s easily if she desired to do
Section 1 “Every contract, combination in the form of a trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations is declared to be illegal.”
This Act protects consumers from misleading descriptions which the business has said about their products and services. It would be a criminal offence if the business trader was to:
• If the alleged debt was purchased, provide a copy of an agreement between Allied Collection Services and myself, signed by me, stating that I have a contractual responsibility to Allied Collection Services for the alleged debt
worldwide, manufacturers will have to adhere to the act and may lose out on profit. However, more
During my line of questioning with Albert Waltham, I will ask him whether he had any interest in David Waltham’s car or loan. I will ask Albert whether he was a co-signor for David, or if he helped with any of David’s down payment. In the likely event that Albert had no financial interest in David’s loan with Great Northern bank, then he would not be considered a secondary obligor under RSA 382A:9-611(C). If this is the case, then the bank would be under no obligation to notify Albert regarding David’s default. Therefore, the plaintiffs would not have a valid claim under RSA
The ACCC sought orders restraining Glendale from engaging in conduct contrary to Section 52 which states that a corporation shall not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive. The action brought by the ACCC against Glendale based on Section 52 and 53(c) of the Act was unsuccessful.
Mr and Mrs Amadio initiated proceedings in the Supreme Court of South Australia before Justice Wells. The Amadio’s in their attack for an order to release them from their obligations under the guarantee, sued the bank, claiming their inability to enforce the guarantee on a number of grounds. ‘It was an unconscionable bargain, … procured by undue influence, and induced by misrepresentation or concealment of facts …’ The bank counterclaimed; Justice Wells concluded his judgement dismissing the claims, thus ordering the Amadio’s pay the counterclaim of AUD239 830.85 under the guarantee.
Article 36 TFEU provides allowances to the general prohibition of Art 34 TFEU. It explains that Art 34 and 35 TFEU will not apply to prohibitions on imports, exports or goods in transit which are justified on any of four grounds including, public morality, public policy or public security; the protection of health and life of humans, animals or plants; the protection of national treasures holding artistic, historic or archaeological value; and the protection of industrial and commercial property. The use of these allowances is subject to the limitation as shown in the second sentence of Art 36 TFEU. This is where we see the constraints of the derogations prevent the free movement of goods from actions to protect domestic industry. The allowances listed in Art 36 TFEU cannot be expanded to incorporate cases which are not
1. Are the financial statements in Exhibit 3.7 consistent with V. Dourtan assumptions in Exhibit 3.1?
When providing the distinction between the above charges the two stage process of legal characterization developed in Agnew must be applied by the English courts. The object of the first stage of the process is to ascertain the nature of the rights and obligations which the parties intended to grant each other in respect of the charged assets. Once these have been ascertained, the Court can then embark on the second stage of the process, which is one of categorization and designed to attribute the correct legal label to the package of rights and obligations. Lord Millett’s reasoning has been approved by the House of Lords in Re Spectrum in which emphasis was given to the freedom of the company to deal with the assets in the ordinary course of business rather than the two first criteria focusing on the nature of the secured assets.
The Sale of Goods Act 1979 controls English law transactions between the purchaser and the seller of goods; it also applies to contracts where involving a transfer of the property in goods or an agreement to transfer a consideration in money.