Are common law and legislation equally beneficial to the regulation and growth of business in Australia?

Its one of the question from my law assignment and i would like some opinions from other people.

So people who knows about business law, can you please help me with that~



The question: are common law and legislation equally beneficial to the regulation and growth of business in Australia?



CheersAre common law and legislation equally beneficial to the regulation and growth of business in Australia?The commonwealth has the power to legislate in regards to "trade %26amp; commerce" in the constitution. The Trade Practises Act, Corporations Act and Sale of Goods Act are your main commonwealth acts in regards to "business", while the Fair Trading Acts in the various states cover the rest. These acts are generally designed to make sure business's act fairly and decently.



Court developed law such as contracts and torts also plays a big role, but today i would say legislation is the big gun for regulation, especially the corporations act.

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