Contract law in Australia has undergone significant changes in 2018. The year has seen a number of important legal cases that highlight the importance of understanding the intricacies of contract law in business and commercial transactions. As a professional, it is important to be aware of the latest developments in contract law in Australia in order to provide relevant and informative content for readers.
One of the most significant contract law cases in Australia in 2018 was Paciocco v Australia and New Zealand Banking Group Limited. In this case, the High Court of Australia ruled that late payment fees charged by banks may be deemed unfair if they exceed the actual cost incurred by the bank. This decision has important implications for businesses and consumers, as it suggests that fees charged by companies in excess of the cost incurred may be deemed unfair and unenforceable.
Another key contract law case in 2018 was the case of Dawson v Australia and New Zealand Banking Group Limited. In this case, the Supreme Court of Victoria held that a bank had breached its contract with a customer by failing to properly credit funds to the customer`s account. This decision highlights the importance of businesses fulfilling their obligations under contractual agreements.
In addition to these cases, there have been a number of other important contract law developments in Australia in 2018. For example, the Australian Government has introduced legislation to crack down on unfair contract terms in small business contracts. This legislation aims to protect small businesses by making it easier to challenge unfair contract terms in court.
Overall, the legal landscape for contract law in Australia has undergone significant changes in 2018. As a professional, it is important to stay up-to-date with the latest developments in order to provide informative and relevant content for readers. Whether you are a small business owner, a consumer, or a legal professional, understanding the intricacies of contract law is essential for successful business transactions and protecting your legal rights.