The purpose of the assignment is for you to undertake independent research into a particular aspect of law, to reflect on and consider particular legal issues and to apply your legal skills.
Commercial Law Assignment
Commercial Law is also known as Business Law.Today as we know competition is increasing day by day in business.so many legal issues related to business also takes place .In that case Commercial Law is useful in Businesses.Commercial Law Assignment is very useful in understanding the concept of laws related to business.
Miranda wants to enter an insurance contract to cover third party, fire and theft on a car her mother has agreed to buy for her. She is very anxious to understand the detail of the way insurance contracts work. She has completed Fundamentals of Law so understands a little about how contracts work. She asks you to explain, using relevant case law and legislation:
1. how, in view of both common law rules and specific statute law, an insurance contract differs from a normal contract.
2. whether she needs to disclose that she had a car accident when she was illegally driving a friends’ car when she was 14.
3. what are the consequences if she takes out the insurance without making that disclosure (referred to above in her question ii) and then has a car accident which is her fault.
It is submitted that a contract is nothing but a framework under which the promises are enforced. The concept of contract law is derived from the common law in Australia. [Clark J, 2010]
In Australia there are various forms of contracts that can be entered amid various persons, such as, sale and purchase contracts, lease contracts, insurance contracts etc.[Small Business Development Contracts, 2013]
However, it is important to analyze the raised issues as per the common law and the law of Australia.