In Considering Whether a Contract Is Unfair Under S 24(2)

question 23

Multiple Choice

In considering whether a contract is unfair under s 24(2) of the ACL, the Court will consider the extent to which the term is:

• A)transparent.
• B)latent.
• C)unconscionable.
• D)misleading or deceptive.

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Definitions:

Estimated Costs

Costs that are predicted or forecasted based on current information and experience, used for budgeting and planning purposes.

Installment Contract

A contract that requires payments to be made in regular intervals over a period in exchange for goods or services.

Net Realizable Value

The estimated selling price in the ordinary course of business minus the costs of completion, disposal, and transportation.