law 101 law loan security

Joginder has been running a business, Joginder Enterprises, in Brisbane where he manufactures kitchen towels. The business has grown significantly in recent months and is now very profitable. Joginder becomes very successful but because he lives alone, he is also very lonely. He is very advanced in age. Joginder has a niece, Jaswinder who is an accountant working for a big firm in Darwin. Joginder writes to his niece Jaswinder and asks her to move over to Brisbane to help him run Joginder Enterprises. He promises to give Jaswinder 50% of the business if she moves and works for him for 2 years. Jaswinder is in a serious relationship with Marc, who also works in Darwin. Marc is not interested in moving to Brisbane and breaks off his relationship with Jaswinder. Jaswinder accepts her uncles offer, sells her recently acquired flat, quits her job and moves to Brisbane to start a new life with her uncle. Six months later, the relationship between Jaswinder and Joginder breaks down and Joginder throws Jaswinder out of his house and the business. Jaswinder is angry as she has lost everything. Explain the presumptions that courts would make in determining whether Joginder and Jaswinder intended to be legally bound by their agreement and advise Jaswinder whether she could succeed in enforcing the agreement. Beatrice owned a car which she wanted to sell for $5000. She advertised the car for sale by placing information brochures at the local supermarket notice board, to target potential buyers in her neighborhood. Upon reading the advertisement on the board, Leonard telephoned Beatrice and said that he would buy the car for $ 4,000. Beatrice said that she had changed her mind and was not sure that she would sell the car, but that if she did she would want at least $6,000. After further discussion Leonard offered Beatrice $5,700 for the car.Beatrice refused to sell for that price but said she would keep her offer open for five days.The next day Beatrice met an old friend, Patricia, who said she was looking for a car. Afterfurther discussion Beatrice sold her car to Patricia for $6,000. Later that day Leonard overheard Patricia boasting about the car she had purchased from Beatrice. Leonard immediately rang Beatrice and told her that he agrees to pay $6,000 for the car. Beatrice replied, “I’m so sorry, Leonard, but I have already sold the car to Patricia. The brochure made no reference to price. Explain to Leonard all the aspects that would be necessary to establish agreement in these circumstances. Flora has just reopened her business after a long closure occasioned by a compulsory lockdown. Her business is struggling financially and she approaches her bankers, Easy Money Commercial Bank, for a loan. Easy Money tell Flora that they are unable to provide further loans unless she can provide additional security. Flora remembers that her grandmother owns a large home. She tells the bank manager, Penny Moore, that her grandmother will provide the home as security. Flora has not discussed this with her grandmother. Penny accompanies Flora to her grandmothers house to get her to sign the loan security documents. Floras grandmother has not had any experience in business and has never had to deal with a banker directly. She is also not able to speak English well as she moved to Australia from Sweden forty years ago and has never bothered to learn the language. She does not understand the documents that are presented to her by Flora and Penny. They explain that the documents are a guarantee to allow Flora to get the loan and that everything will be fine. They assure Floras grandmother that she has no need for independent legal advice. The documents are actually a standard security guarantee, which will allow the bank to foreclose if Flora does not pay. Her grandmother signs the document and Flora receives the loan. Floras business does not improve and within a few months she defaults on the loan. The bank attempts to foreclose on the loan and seize her grandmother home. Explain to Floras grandmother the ground under common law and statute that would allow her to void the guarantee for lack of consent on her part. Jairus entered into a contract to tutor Shivani for the first year of his university education in the field of complex mathematics. Before he could start, Jairus suffered an injury that left him bedridden for six months and he is unable to perform his part without significant difficulty and expense. With the aid of case law, explain whether there are any grounds upon which the contract may be discharged. In January 2020, Manoj bought an electric frying pan for $200 from Frying Appliances Pty Ltd, an electrical appliance store in Melbourne. The pan was manufactured by Great Pans Ltd. A manufacturers label attached to the pan promised that the pan was fully portable. On another label attached to the pan was a statement that provided: all warranties, conditions and guarantees are hereby excluded. While particularly busy one day, Manoj left the pan on and went outside for some fresh air. During this time the pan caught fire due to an electrical manufacturing fault. There was a fire which destroyed his $1000 bed and all the expensive wallpaper in his room to the value of $3,000. Later tests revealed that the pans electrical fault was in fact triggered by defective internal electrical components that were designed for the non-portable version of the pan. Manoj has also suffered from inhalation of the toxic fumes and was required to be hospitalised for two days. Manoj now wishes to take legal action against the Great Pans Ltd for common law negligence. With the aid of case law, explain the three requirements that he will need to meet in order to establish the tort. What defences would be considered for the intended defendant?

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