First Principles of Business Law

The regulation of undesirable business practices

1. Regulating business practices

1.1. The need for regulation

 

 

 

 

 

 

 

The large commercial suppliers of goods and services are usually in a strong bargaining position when dealing with smaller businesses or consumers.  In the absence of regulation, this advantage enables them to behave in ways that are damaging to the wider community. 

There are are many different forms of such conduct, such as behaviour that is misleading or unconscionable, the inclusion of harsh terms in contracts or the supply of unsafe goods and services.  Early attempts to regulate such conduct were too narrow and technical to be effective.  In a comprehensive reform, new regulatory laws known collectively as the Australian Consumer Law (ACL) came into operation throughout Australia on 1 January 2011.

This module will introduce you to the regulatory provisions of ACL and help you to understand how they operate.

 

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