Commercial Law Exam Notes

6 Found helpful • 167 Pages • Complete Study Notes • Year: Pre-2021

Very Comprehensive!! 4.1 DEFINITION AND PARTIES .............................................................................................................80 4.2 BAILMENT DISTINGUISHED FROM LICENCE ..................................................................................80 4.3 TYPES OF BAILMENT.....................................................................................................................81 a. Old categories...........................................................................................................................81 b. Time ..........................................................................................................................................81 c. Modern categorisations.............................................................................................................82 d. Relationship b/w K and Bailment..............................................................................................82 4.4 BAILEE‘S DUTY ............................................................................................................................83 a. Standard of Care.......................................................................................................................83 b. Onus of Proof............................................................................................................................84 4.5 LIABILITY OF BAILEE FOR EMPLOYEES AND AGENTS ...................................................................86 4.6 SUB-BAILMENTS...........................................................................................................................87 4.7 EXCLUSION CLAUSES ...................................................................................................................87 4.8 DUTIES OF A BAILOR ....................................................................................................................92 4.9 HIRE OF GOODS ............................................................................................................................92 a. CL .............................................................................................................................................92 b. TPA ...........................................................................................................................................93 4.10 TERMINATION OF BAILMENTS ....................................................................................................95 4.11 RIGHTS AGAINST THIRD PARTIES ...............................................................................................95 4.12 SPECIAL BAILMENTS ..................................................................................................................96 TOPIC 5 – FRANCHISING ................................................................................................................99 5.1. DEFINITION OF FRANCHISE ..........................................................................................................99 a. Definition ..................................................................................................................................99 b. What franchises are NOT..........................................................................................................99 5.2. CATEGORIES OF FRANCHISING...................................................................................................102 a. Product and trade name franchises ........................................................................................102 b. Bus format franchises .............................................................................................................102 5.3. FRANCHISING DOCUMENTS .......................................................................................................103 a. Franchise agreement ..............................................................................................................103 b. Operations manual..................................................................................................................104 5.4. FRANCHISING IN CONTEXT ........................................................................................................104 a. Trends .....................................................................................................................................104 5.5 ECONOMIC AND SOCIAL PERSPECTIVE........................................................................................105 a. Economic ................................................................................................................................105 b. Social ......................................................................................................................................106 5.6 CHALLENGES TO THE LAW PRESENTED BY FRANCHISING ..........................................................106 5.7 COMMERCIAL ISSUES..................................................................................................................106 a. Strengths .................................................................................................................................106 b. Weaknesses .............................................................................................................................108 c. Opportunities ..........................................................................................................................108 d. Threats ....................................................................................................................................108 5.8 CONTRACT AND REGULATION ....................................................................................................109 a. Contract ..................................................................................................................................109 b. Regulation...............................................................................................................................109 5.9 REMEDIES...................................................................................................................................112 5.10 DEFENCES.................................................................................................................................114 5.11 MEDIATION...............................................................................................................................114 TOPIC 6 – INSURANCE...................................................................................................................115 6.1 INTRODUCTION ...........................................................................................................................115 a. Definition of Insurance K........................................................................................................115 6.2 FORMATION OF A CONTRACT OF INSURANCE..............................................................................115 a. The Proposal Form.................................................................................................................115 b. The Policy ...............................................................................................................................115 c. Cover Notes.............................................................................................................................116 Matthew Floro Page 2 9/4/2013 LAWS5136 Commercial Law Semester 2 2009 – Mr Paul O‘Shea 6.3 BASIC CONCEPTS OF INSURANCE LAW .......................................................................................116 a. Application of Insurance Contracts Act 1984 (Cth)................................................................116 b. Insurable Interest....................................................................................................................116 c. Duty of Good Faith .................................................................................................................117 6.4 DUTY OF DISCLOSURE ................................................................................................................118 a. Duty.........................................................................................................................................118 b. Remedies for Non-Disclosure .................................................................................................121 6.5 MISREPRESENTATION .................................................................................................................124 6.6 COVER NOTES ............................................................................................................................126 6.7 THE POLICY AND ITS TERMS.......................................................................................................127 a. Terms Construed Contra Proferentum....................................................................................127 6.8 EXCLUSION CLAUSES .................................................................................................................128 6.9 PROXIMATE CAUSE OF LOSS.......................................................................................................130 6.10 PROVISIONS OF ICA..................................................................................................................130 a. Insurer may not refuse to pay claims in certain circumstances ..............................................130 b. Application of s 54 to ―claims made and notified‖ professional indemnity policies ..............131 c. Pre-existing defects or disabilities ..........................................................................................132 d. Standard cover........................................................................................................................133 e. Notification of unusual terms ..................................................................................................133 f. Fraudulent claims....................................................................................................................133 g. Arbitration provisions.............................................................................................................134 6.11 PRIVITY OF K AND TP RIGHTS ..................................................................................................134 6.12 EFFECT ON AN INNOCENT CO-INSURED OF THE FRAUDULENT CONDUCT OF ANOR CO-INSURED ......................................................................................................................................................... 135 a. Position under a joint policy of insurance ..............................................................................136 b. Position under a composite policy of insurance .....................................................................136 6.13 EXPIRY, RENEWAL AND CANCELLATION OF INSURANCE CONTRACTS......................................137 a. Notification of expiry of a k of gen insurance .........................................................................137 b. Cxlation of a k of gen insurance .............................................................................................137 c. Notice of cxlation ....................................................................................................................137 d. Reasons to be given for refusal to accept insurance, for cxlation, or failure to renew...........138 6.14 QUANTUM.................................................................................................................................138 a. Indemnity contracts.................................................................................................................138 b. ―Subject to average‖ provisions : s 44 ...................................................................................138 6.15 DOUBLE INSURANCE AND CONTRIBUTION................................................................................139 6.16 SUBROGATION ..........................................................................................................................140 6.17 INSURANCE AGENTS AND BROKERS .........................................................................................142 a. Distinction B/w Employees, Agents and Brokers ....................................................................142 b. Insurance employees and agents.............................................................................................143 c. Insurance brokers....................................................................................................................144 6.18 TPA AND FTA..........................................................................................................................147 6.19 OTHER PROVISIONS OF THE CORPS ACT 2001 AFFECTING INSURANCE INTERMEDIARIES.........147 TOPIC 7 – SECURING OBLIGATIONS AND BUSINESS-TO-BUSINESS OBLIGATIONS..148 7.1 RETENTION OF TITLE ..................................................................................................................148 7.2 RETENTION OF PAYMENTS..........................................................................................................150 7.3 SUBCONTRACTORS‘ CHARGES ....................................................................................................151 7.4 CORPORATE SECURITIES.............................................................................................................151 7.5 CHARGES/MORTGAGES/LIENS....................................................................................................152 7.6 GUARANTEES OF OBLIGATIONS ..................................................................................................152 a. Introduction ............................................................................................................................152 b. Gen law of guarantees ............................................................................................................153 c. Liabilities and Rights of Guarantors......

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