LAW 1509 Lecture Notes - Lecture 1: Consumer Protection From Unfair Trading Regulations 2008, Legal Personality
30 Jun 2018
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Department
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COMMERCIAL TRANSACTIONS LECTURE WEEK 1
Watch the video on Canvas
Seminars start next week
Associate Professor David Brown is one of the lecturers and the one for today; he’s
a New Zealander and easily distracted by other stories
13 or 1400 BC first documentation of trade in Obsidian
Context to commercial transactions, not a full course on separate issues important
to commercial transactions
A legal personality can hold property, sue and be sued
Partnership agreements determining rules and regulations
Partnerships designed to create profit to share amongst the partners
Partnerships Act and Equity (partnership as relationship of trust)
Limited partners don’t run the operation on a day-to day basis but general partners
are heavily involved and therefore MUST be registered
Gifting is not a commercial transaction because a commercial transaction requires
recompense
Land contracts need to be hand written and signed
Sale of goods and the definition of what a sale is and when it has occurred
Fair trading and consumer protection
Regulations can begin as codes of conduct and transform into legislation and vice
versa
Corporation transactions are monitored by ASIC including liquidation and asset
divisions in corporations
Next week’s seminar looking more at company registration and how to set up a
business e.g. business names in the Commonwealth Register of Business Names
1
Melissa Sparrow (a1668063)
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Associate professor david brown is one of the lecturers and the one for today; he"s a new zealander and easily distracted by other stories. 13 or 1400 bc first documentation of trade in obsidian. Context to commercial transactions, not a full course on separate issues important to commercial transactions. A legal personality can hold property, sue and be sued. Partnerships designed to create profit to share amongst the partners. Partnerships act and equity (partnership as relationship of trust) Limited partners don"t run the operation on a day-to day basis but general partners are heavily involved and therefore must be registered. Gifting is not a commercial transaction because a commercial transaction requires recompense. Land contracts need to be hand written and signed. Sale of goods and the definition of what a sale is and when it has occurred. Regulations can begin as codes of conduct and transform into legislation and vice versa.
