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Australia · Year 1 · Contracts

Terms, Mistake & Penalties

More High Court contract law.

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  1. 1.Toll (FGCT) v Alphapharm (2004) — held?

    A party who signs a contractual document is bound by its terms whether or not they read them, absent misrepresentation or similar vitiating factors.

    (2004) 219 CLR 165

  2. 2.Taylor v Johnson (1983) — held?

    A contract may be rescinded in equity for unilateral mistake about a fundamental term where the other party knows or suspects the mistake and deliberately avoids correcting it.

    (1983) 151 CLR 422

  3. 3.Mount Bruce Mining v Wright Prospecting (2015) — approach to construction?

    Commercial contracts are construed objectively, by what a reasonable businessperson would have understood the terms to mean, considering text, context and purpose.

    (2015) 256 CLR 104

  4. 4.Andrews v ANZ Banking Group (2012) — held?

    The equitable penalty doctrine is not limited to sums payable on breach of contract.

    (2012) 247 CLR 205

  5. 5.Paciocco v ANZ Banking Group (2016) — held?

    Late payment fees were not penalties: a stipulation is penal only if it is out of all proportion to the legitimate interests it protects.

    (2016) 258 CLR 525

  6. 6.Which statute contains the Australian Consumer Law?

    Schedule 2 to the Competition and Consumer Act 2010 (Cth).

    Competition and Consumer Act 2010 (Cth), Sch 2

  7. 7.ACL s 21?

    A person must not, in trade or commerce, engage in conduct that is unconscionable in connection with the supply or acquisition of goods or services.

    ACL s 21

  8. 8.What did the 2023 amendments do to unfair contract terms in standard form contracts?

    From 9 November 2023 unfair terms in standard form consumer and small business contracts became prohibited, with civil penalties, rather than merely void.

    Treasury Laws Amendment (More Competition, Better Prices) Act 2022