Monash Business School - Business Law and Commercial Law Notes

Introduction to Business Law and Commercial Law

  • Focus on key areas of business law and commercial law in Australia.
  • Learning Outcomes:
  • Understanding the impact of these laws on business conduct and professional careers.
  • Activities and assessments are designed to help achieve these outcomes.

Lecturer Information

  • Dr. Benjamin Hayward: Associate Professor, Department of Business Law and Taxation
  • Background:
  • PhD with ongoing research in dispute resolution regarding international business contracts.
  • Over eight years teaching experience in Business Law and Commercial Law; over fifteen years in law overall.
  • Online lectures for first five weeks of the course.

Course Structure for Weeks 1-5

  • Learning Journey Includes:
  • Online lectures
  • Readings
  • Tutorials
  • Workshops
  • Textbook:
  • Concise Australian Commercial Law, 8th Edition by Roger Gamble, Benjamin Hayward

Overview of Law and the Australian Legal System

Definition of Law

  • Law consists of rules established by the state (parliament and courts) and enforceable by the state.
  • Legal rules differ from other societal rules.

The Australian Legal System

  • Characteristics:
  • Federation and constitutional monarchy
  • Multiple levels of government: States, Territories, Federal Government
  • Key Components:
  • Parliament, executive, courts (separation of powers)
  • Court Hierarchies and inconsistency issues (Section 109)
  • Amendment process for the Constitution (Section 128)

Statute Law

Overview

  • Definition: Law passed by parliament; also known as statutory law, legislation (Acts and Bills).
  • Exists at both State and Federal levels.
  • Example: Australian Consumer Law (Section 18(1)):
  • Prohibits misleading or deceptive conduct in trade.

Importance of Statutory Interpretation

  • Statutes require interpretation for practical application.
  • Courts are tasked with interpreting these laws.

Judge-Made Law

Description

  • Created through judicial decisions in real-world disputes.
  • Also known as: precedent, case law, or common law.

Key Concepts in Judge-Made Law

  • No standardized terminology; focus on judicial reasoning over outcomes.
  • Ratio decidendi: Legal principles established by the case.
  • Obiter dicta: Commentary or observations made by judges that are not essential to the ruling.
  • Distinction between binding (precedent that must be followed) and persuasive precedent (influential but not mandatory).

Case Law References

  • Legal decisions can be found in law reports, which are important for developing legal principles.
  • Example: Mabo v. Queensland (1988) concerning Indigenous land rights and the concept of terra nullius.

Application of Law in Studies

  • Emphasis on how legal rules affect business conduct.
  • Assessments will focus on applying legal knowledge rather than general knowledge.

Conclusion

  • Engage actively with the course content and best of luck with studies!
Tips for Success
  • Pay attention to case law and statutory interpretations as they will appear in assessments.
  • Engage with readings and tutorials to enhance understanding and application of legal principles.