CONTRACT LAW IN AUSTRALIA

Issue:

The issues in this case are whether under the circumstances, Max can rescind, terminate, or otherwise avoid the contract, and whether he can confirm the contract but sue Maggie for breach of contract and/or for one-half of $35m in damages or some other appropriate sum.

Rule

The laws governing contract rescission, termination, and breach, and whether in either circumstances, one can sue for damages, are contained in a number of instruments, including, common law, statutory law provisions, and case law[1]. The common law is contained in the doctrines of ancient English law of the commonwealth nations, Australia inclusive. Statutory law on the other hand, is derived from Acts[2] of the Legislature and Statutes. Case law constitutes decisions emanating from the courts of law which touch on the relevant matters and as applicable to the given fact pattern. At the moment, Australia does not have a unified code of contract of law. As such, the laws regulating contract forma...