mcqq9

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School

Greenwich English College *

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123

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Law

Date

Nov 24, 2024

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docx

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Uploaded by SargentRiverPolarBear33

61. Under the Australian Consumer Law (ACL), what is the definition of 'unsolicited consumer agreements'?  A) Contracts negotiated in writing  B) Contracts initiated by consumers  C) Contracts formed during door-to-door sales or telemarketing  D) Contracts with no cooling-off period 62. What is the primary purpose of the Competition and Consumer Act 2010 in relation to price discrimination?  A) Encouraging price discrimination to boost sales  B) Prohibiting price discrimination in specified circumstances  C) Allowing businesses to set prices without restrictions  D) Regulating international pricing strategies 63. Under the Personal Property Securities Act 2009 (PPSA), what is the term for the party who holds a security interest in personal property?  A) Debtor  B) Secured party  C) Creditor  D) Trustee 64. What is the legal term for a situation where a party to a contract fails to perform its obligations, giving the other party the right to terminate the contract?  A) Frustration  B) Repudiation  C) Duress  D) Novation 65. Under the Corporations Act 2001, what is the term for a person appointed by a court to manage the affairs of a company that is insolvent?  A) Liquidator  B) Administrator  C) Receiver  D) Trustee

66. In the context of contract law, what is the term for a situation where a party is released from its obligations under a contract due to unforeseen circumstances?  A) Repudiation  B) Frustration  C) Duress  D) Misrepresentation 67. What is the primary purpose of the Australian Securities and Investments Commission (ASIC) in regulating financial markets?  A) Facilitating market manipulation  B) Ensuring market transparency and integrity  C) Promoting aggressive trading strategies  D) Maximizing profits for market participants 68. Under the Trade Practices Act 1974, what is the role of the Australian Competition and Consumer Commission (ACCC) in relation to misleading or deceptive conduct?  A) Encouraging misleading advertising  B) Regulating truthful business communications  C) Prohibiting misleading or deceptive conduct in trade or commerce  D) Mandating deceptive marketing practices 69. What is the legal term for the transfer of contractual rights and obligations from one party to another with the consent of all parties involved?  A) Assignment  B) Novation  C) Repudiation  D) Rescission 70. Under the Corporations Act 2001, what is the term for the process of a company paying off its debts and distributing its assets among its shareholders?  A) Liquidation  B) Receivership  C) Administration  D) Divestiture

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