Consumers, Money, and Debts
This section covers some basics of the Australian Consumer Law (e.g. guarantees and remedies, misleading and deceptive conduct, consumer protections), the legal framework of contract law (what is a contract and what does it mean if a person signs?), debt and bankruptcy.
If you buy a product from a shop and it breaks, what do you do? All products and services provided by a business in Australia are subject to Australian Consumer Law (‘ACL’). This chapter explains the types of products and services that come under ACL as well as the major protections provided for consumers (guarantees, unfair practices, misleading and deceptive conduct) as well as providing information on the process of making a claim under ACL and the relevant statutory bodies that apply.
Contracts are everywhere; renting a house, employing a gardener or placing your money in a bank account but what is a contract and what does it legally mean? This chapter explores the essence of the law of contracts (effects of signing a contract, elements needed to create a contract and fulfilling or ending a contract) as well as considering some of the pitfalls of a contract (uncertain terms or illegal contracts).
This chapter explains what a debt is, how a person can enter debt, and what can be done once a debt exists. The chapter also outlines the process when a person defaults (doesn’t pay the money or other item back at the agreed time), what happens if debt collection proceeds to court, how much a person may be liable to pay, as well as the role of debt collectors.
This chapter explains bankruptcy, outlines some of the major components of bankruptcy and considers the advantages and disadvantages of bankruptcy. There is also information on alternatives to bankruptcy, how a person or company becomes “un”bankrupt, what creditors are and the role they play and what happens to persons property when they are bankrupt as well as bankruptcy offences.